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Self-Study — Course Detail

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2012 Quick & Easy Tax Update: Preparing Business Returns—Part 2
Vern Hoven
Copyright© 2012

Course: 8122394   Version 1207

NASBA Category:     Taxes     CPE Credits 4
CTEC Credits: 4 Federal / California
Level: Update  (78 pages)
Prerequisite: General tax preparation experience.
Advance Preparation: None.
IRS Program Nbr: 0MYXB-U-00205-12-S





Course Description


This course is a convenient update for those preparing business returns this year. The course summarizes all relevant tax legislation, cases, and regulations; examines the resulting impact; and discusses strategic tax planning opportunities.  You’ll learn everything you need to know about:

• Business losses and credits
• Home office requirements
• Start-up expenses
• The domestic production deduction
• Business accounting periods and methods
• Mark-to-market dealers in securities
• Farm topics
• Net operating loss deduction

 

Western CPE has been approved by the California Tax Education Council to offer Course Title (2071-CE-0216), which provides 4 hours of federal credit and 0 hours of state credit towards the annual “continuing education” requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.


Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Outline the rules for home office deductions.
  • Properly deduct business start-up expenses.
  • Outline the rules and provisions for various business expenses.
  • List various business tax provisions that apply to farming.
  • Analyze how recent provisions in the tax law affect general business items, including trade or business activities.
  • Determine how to apply the new depreciation rules.
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