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Live Webcast Replay

2024 Schedule C of Form 1040


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Industry Institute |  IRS Approved |  Tax
Speaker:
Allison M. McLeod, LL.M., CPA
Course Levels:
Basic
Duration:
2 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

Many self-employed or sole proprietors find themselves having to navigate Schedule C in reporting business income.  While this attachment to Form 1040 seems straightforward on the surface, there are many traps for the unwary. This course is ideal for CPAs, EAs, or other tax professionals.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Basic Course Information

Learning Objectives
  • Identify the appropriate taxpayers who should be filing Schedule C
  • Discuss the difference between the cash and accrual methods, and the correct period in which taxpayers must recognize income and/or deductions
  • Develop a working knowledge of related issues, such as reporting the deduction of self-employed health insurance, employment taxes, home office deductions, and proper reporting of employee/independent contractor salaries and retirement contributions
  • Discuss types of typical deductions, such as advertising, utilities, supplies, etc.
  • Determine the methods of deducting the cost of a company car
  • Be able to apply the rules, such as Section 179 or bonus depreciation, which permit the immediate expensing of some or all of the cost of certain assets

Major Subjects
  • When Schedule C applies
  • Cash v. Accrual method
  • Typical business deductions
  • Business vehicle expenses
  • Section 179 and bonus depreciation

Course Materials

Speaker

Allison M. McLeod, LL.M., CPA's Profile

Allison M. McLeod, LL.M., CPA Related Seminars and Products


Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas.   She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England. 

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod has taught at the university level graduate classes on Ethics, Tax Research, Multi-jurisdictional Taxation and Corporate Income Tax.   She also lectures in Financial Accounting and Individual Taxation on an undergraduate level.  She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC.   Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation.  She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses.  Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty.  She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.  


Dates

Wed, Jun 26, 2024 - 02:00pm to 04:00pm CDT
Wed, Jul 10, 2024 - 02:00pm to 04:00pm CDT
Sat, Jul 20, 2024 - 03:00pm to 05:00pm CDT
Mon, Aug 05, 2024 - 08:00am to 10:00am CDT
Mon, Aug 26, 2024 - 10:00am to 12:00pm CDT
Tue, Sep 10, 2024 - 06:00pm to 08:00pm CDT
Mon, Sep 23, 2024 - 01:00pm to 03:00pm CDT
Mon, Oct 07, 2024 - 02:00pm to 04:00pm CDT
Wed, Oct 23, 2024 - 03:00pm to 05:00pm CDT
Wed, Nov 06, 2024 - 08:00am to 10:00am CST
Mon, Nov 18, 2024 - 10:00am to 12:00pm CST
Fri, Dec 06, 2024 - 11:00am to 01:00pm CST
Sat, Dec 14, 2024 - 01:00pm to 03:00pm CST
Thu, Dec 26, 2024 - 06:00pm to 08:00pm CST
Mon, Jan 06, 2025 - 03:00pm to 05:00pm CST
Tue, Jan 21, 2025 - 08:00am to 10:00am CST
Wed, Feb 05, 2025 - 10:00am to 12:00pm CST
Thu, Feb 20, 2025 - 11:00am to 01:00pm CST
Wed, Mar 12, 2025 - 01:00pm to 03:00pm CDT
Tue, Mar 25, 2025 - 02:00pm to 04:00pm CDT
Tue, Apr 08, 2025 - 03:00pm to 05:00pm CDT
Mon, Apr 28, 2025 - 08:00am to 10:00am CDT
Tue, May 06, 2025 - 10:00am to 12:00pm CDT
Fri, May 23, 2025 - 11:00am to 01:00pm CDT

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For This course is ideal for CPAs, EAs, or other tax professionals.
Original Recording Date 05/2024
Course Developer Allison McLeod
Date Added to Catalog 03/22/04
Yellow Book No

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). 


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


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