Description
Business expenses are the costs of carrying on a trade or business, and they are usually deductible if the business is operated to make a profit. This mini-course reviews various expenses that businesses may deduct and the requirements that must be met for those expenses to qualify for deduction. Furthermore, practitioners can use this as a guide to determine which of their clients’ taxes are deductible as business expenses.
Learning Objectives
After reading the materials, participants will be able to:
1. Cite the elements of §162 and the not-for-profit limitations, noting their impact on business deductions such as cost of goods sold, leases, and loan points.
2. Specify casualties, thefts, and research costs in the context of business deductions under §162.
3. Recognize methods of amortization for business startup, organizational costs, and §179 intangibles with the cost depletion methods used on natural resources.
4. Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under §166.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. Clicking on the Certificate link will show the course as 100% Complete
A course evaluation form is provided for your feedback and participants have 1 year from the date of purchase/enrollment to complete this course. .
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/
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