This course will cover Schedule C from start to finish and will cover all of the typical scenarios tax pros are likely to encounter.
This course will cover Schedule C from start to finish and will cover all of the typical scenarios tax pros are likely to encounter.
This course will cover the following learning objectives: • Understand when to use an employer identification number versus a Social Security number • Understand cash versus accrual accounting • Identify when a proprietor needs to issue 1099s • Understand what a Form 1099-K is, and the changes to the form for 2022 • Understand how payments made through Venmo and other such apps work • Understand changes to meal expenses in general, and specific to 2022 • Understand vehicle expenses • Identify the differences between Section 179 expensing and bonus depreciation • Understand home office expenses, including the simplified option • Identify other proprietor deductions, including health insurance and retirement contributions • Understand the basics of the qualified business income deduction • Understand the basics of net operating losses, excess business losses, and the Families First Coronavirus Response Act credit • Identify when an activity is a hobby versus when it is a business • Understand the IRS’s 9-factor test for determining if an activity is a hobby or a business
Field of Study: Taxes
Lambers, Inc. is a leader in review courses for the EA, AFSP, and CPA exams. Lambers also offers IRS Continuing Education for Tax Preparers and CPE for CPAs. Accounting and finance professionals around the world incorporate Lambers products into their training programs.
LPA, EA
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.
