Name: Schedule C Updates 2025
Price: 91 USD
Rating: 5 (16 reviews)

What You'll Learn

check_circleUnderstand what a Form 1099-K is, and the changes to the form for 2025

check_circleUnderstand how payments made through Venmo and other such apps work

check_circleIdentify the differences between Section 179 expensing and bonus depreciation

check_circleIdentify other proprietor deductions, including health insurance and retirement contributions

check_circleUnderstand the basics of the qualified business income deduction

check_circleUnderstand the IRS’s 9-factor test for determining if an activity is a hobby or a business

About This Course

This course will cover Schedule C from start to finish and will cover all of the typical scenarios tax pros are likely to encounter.

You will gain an in-depth understanding of:

Evolving Form 1099-K Requirements: Explore updated thresholds and their significant implications for income reporting on Schedule C, including the latest IRS delays and changes influencing contractor payments.
Optimizing Vehicle Expenses: Compare standard mileage versus actual expense methods, delve into complex depreciation rules, and understand the tax consequences upon vehicle sale.
Crucial Schedule C Adjustments: Grasp the latest standard mileage rates, bonus depreciation percentages for 2025, and essential Qualified Business Income (QBI) deduction considerations.
Distinguishing Hobby vs. Business: Learn the IRS's nine-factor test for profit motive, understanding the critical difference in deductibility of losses.
Navigating Home Office Deductions: Uncover qualification criteria, explore simplified versus actual expense methods, and address the often-overlooked depreciation recapture upon home sale.
Mastering 1099 Issuance Compliance: Understand requirements for 1099-NEC and 1099-MISC, and learn vital lessons on documentation and substantiation from recent tax court cases.
Strategic Employment of Family Members: Discover legitimate tax benefits and crucial considerations for hiring children (payroll tax exemptions) and spouses (fringe benefits like Section 105 plans), emphasizing reasonable compensation.
Understanding Accounting Method Nuances: Differentiate between cash and accrual methods, grasp constructive receipt, prepaid expenses, the 12-month rule, and handling advances.
Self-Employed Health Insurance: Review the criteria for deductibility and the necessity of Form 7206.
Retirement Planning for Sole Proprietors: Analyze contribution rules and deduction implications for SEPs, SIMPLEs, Solo 401(k)s, and traditional/Roth IRAs, ensuring optimal retirement savings strategies.

Equip yourself with the knowledge to navigate the complexities of Schedule C and provide top-tier advice for the 2025 tax season.

Your Instructors

Lambers Inc.

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star5,388 reviews

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.

Jason Dinesen

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.

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

Schedule C Updates 2025

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