Common errors made involving the following tax topics: • Section 199A qualified business income deduction
• Home office
• Hobby losses
• Self-employment health insurance
• Business start-up costs
• Depreciation
• Unreported income
• Schedule C issues
• Like-kind exchanges
• Self-employment tax
• Sections 1202 and 1244 stock
• Charitable contributions of property
Learning Objectives
When you complete this course, you will be able to: • Identify potential errors or omissions of information on tax returns.
• Recognize planning opportunities for your clients based upon information reported on a tax return.
• Determine the proper tax treatment for certain rental property activities.
• Determine the proper tax treatment for various start-up costs by a new business.
• Recognize some potential issues surrounding the qualified business income deduction and certain service businesses.
• Determine proper tax return reporting of a like-kind exchange transaction.
Major Topics
Common errors made involving the following tax topics: • Section 199A qualified business income deduction
• Home office
• Hobby losses
• Self-employment health insurance
• Business start-up costs
• Depreciation
• Unreported income
• Schedule C issues
• Like-kind exchanges
• Self-employment tax
• Sections 1202 and 1244 stock
• Charitable contributions of property
