Self-Employment, Education and Estimating Tax

CPAs, EAs, CRTPs

This course was designed to expose the tax professional to a more complex level of tax return preparation. In addition to discussing adjustments to gross income, the course content will cover what constitutes self-employment income, the items which qualify as education in order to claim education credits, and guidelines for paying estimated tax payments. In addition, the course will briefly discuss deductible expenses related to work travel and meals.

• Identify applicable adjustments to gross income
• Explain filing requirements including extensions and amended returns
• Identify forgiveness of debt as income
• Explain the self-employment tax adjustment to income
• List important details about education credits
• Identify deductibility of employee travel, transportation, education, and entertainment expenses (Note: All Schedule A miscellaneous itemized deductions subject to the 2% floor are temporarily suspended for tax years 2018 through 2025)
• Explain the estimated tax payment requirements