Course Description:
This IRS-approved course is designed for tax professionals who prepare returns for sole proprietors and self-employed individuals. Covering both timeless principles and new developments for 2025, this webinar takes a deep dive into Schedule C, with real-world examples, Tax Court rulings, and advanced strategies for compliance and tax savings.
Participants will explore key topics such as accounting methods, 1099-K reporting, home office deductions, vehicle expenses, family employment, and retirement plan options for sole proprietors. Recent IRS guidance, updated mileage and depreciation rates, and important court decisions like Nurumbi v. Commissioner and Gregory v. Commissioner will be examined to ensure practitioners are equipped to handle even the most complex self-employment returns.
This course qualifies for IRS continuing education credit and counts toward the Annual Filing Season Program (AFSP).
Learning Objectives:
By the end of this course, attendees will be able to:
- Distinguish between cash and accrual accounting methods and understand Form 3115 requirements for changes.
- Identify deductible vehicle and home office expenses under both simplified and actual methods.
- Explain the rules for issuing Form 1099-NEC and 1099-K, and understand the risks of noncompliance.
- Evaluate the implications of hiring family members, including payroll tax benefits for sole proprietors.
- Apply current rules for deducting self-employed health insurance and retirement contributions.
- Analyze IRS court cases that clarify the hobby vs. business classification and deduction substantiation requirements.
About the Presenter:
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.
He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credits, corporation and partnership taxation and other issues relating to the modern-day setting.
This course counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
