Corporate Tax Series

Selected Business Expenses (Updated - 2)

Course Overview
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 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 completing this course, the course participant should be able to:

  • Cite the elements of the Sec. 162 and the limitations imposed by the not-for-profit provisions stating how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.
  • Determine the corporate dividends received deduction, identify the cost allocation on the business use of a residence and specify casualties, thefts and research costs in the context of business deductions under Sec. 162.
  • Recognize methods of amortization for business startup, organizational costs, and Sec. 179 intangibles with the cost depletion methods used on natural resources.
  • Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under Sec. 166.

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
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    Prerequisites/Advanced Preparation:

    General understanding of federal income taxation

    Speaker / Author:

    Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California.

    His legal career started with the business and litigation firm of Edwards, Edwards and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter and Leanders, in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law and estate planning.

    Danny has been an officer and active member in various organizations including the Glendale Bar Association, Century City Bar Association, 0range County and Los Angeles County Bar Associations, California State Bar Association, Toastmasters and Lions Club. He has been admitted to practice before all California and federal courts including the United States Tax Court and the United States Supreme Court.

    Serving as a lecturer for the Continuing Education of the Bar of California, Golden Gate University, and numerous state C.P.A. societies, Danny teaches a variety of tax, business and real estate courses. Danny is in demand all across the country as a speaker for all levels of professional and civic organizations and numerous major seminar circuits.

    The author of 28 texts, Danny speaks to over 2,000 people per month and travels more than 150,000 miles annually. He is listed in “Who’s Who in Creative Real Estate” and is admitted to the American Exchangor’s Hall of Fame.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Windows or Mac OS

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    Price (USD)

    Standard Rate: $49.90

    Details

    Course Code : 99SANT12-v2

    Release Date : 12/27/2018
    Expire Date : 12/27/2020
    Credits :
    CPE 2.00
    QAS 2.00

    Course Level : Overview
    Course Type : Self-Study
    Length : 1hr 40min
    Passing Grade : 70%
    Field Of Study : Taxes
    Theme : Corporate Tax Series

    Format Type : eLearning
    Mobile Compatible

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