Is It Deductible? Common Deductions Clients Ask About (ACDC)
Discussion Leader
Nick Preusch, CPA, J.D., LLM
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Is It Deductible? Common Deductions Clients Ask About (ACDC)
Customer Rating
Field of Study
Taxes
Level
Overview
Credits
1
Qualifies For
Overview
Clients come up with the most interesting questions regarding what they heard is deductible. This course will look at some of their most common questions and analyze whether or not a deduction is valid.
Major Topics
- What does the IRS look at when analyzing expenses?
- S corporation reimbursements
- Accountable plans
- Compensation
- Accounting for inventories
- Meals and entertainment
- Luxury items
- Depreciation
- QBI
- Passive losses
Learning Objectives
- Understand how to structure S corporation reimbursement plans
- Determine the answer to many common client questions about tax deductions
- Interpret passive loss rules
- Gain a basic understanding of IRC 199A
Designed For
CPAs who work on taxes
Prerequisite
None
Advanced Preparation
None