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Cpece webinars
IRS Form 1040 Schedules C and E: Similarities and Differences

IRS FORM 1040 SCHEDULES C AND E: SIMILARITIES AND DIFFERENCES

Cost $50.00
CPE Credits 2.0 hours
Subject Area 2.0 - Taxes (Federal Tax)
CE Credits 2.0 hours
Course Id# - HURS9-T-00831-20-O
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Owners of unincorporated businesses and disregarded entities (single-member LLCs) report their income and losses on either Schedule C or E of their personal 1040.  If you fall in either of these categories, then this webcast is for you. 

Topics for discussion: 

Schedule C: Profit or Loss from Business (Sole Proprietorships)
Part I   – Schedule C – Income 
Part II – Schedule C – Expenses 
Part III – Schedule C – Cost of Goods 
Part IV – Schedule C – Information on Your Vehicle
Part V – Other Expenses

Schedule E: Supplemental Income & Loss (From rental real estate, royalties. S corporations, estates, trusts, REMICs, etc.)
Part I   – Schedule E – Income or Loss from Rental Real Estate and Royalties
Part II – Schedule E – Income or Loss from Partnerships and S Corporations, &                           
Part III – Schedule E – Income or Loss from Estates and Trusts  
Part IV – Schedule E – Income or Loss from Real Estate Mortgage Investment Conduits (REMICs) 
Part V – Summary

Learning Objectives:


  • Recognize where to report an individual taxpayer's income and expenses

  • Distinguish which schedules the taxpayer is required to use and why

  • Identify specific reporting requirements of income and expenses when filing personal income tax returns      

  •  Determine the requirements of both these schedules on Form 1040

  • Distinguish which one is proper to report activities resulting in either income or losses and what limitations may be expected


 
 

Marcia L. Miller, MBA, EA

Financial Horizons, Inc
President & Owner

(954) 389-9510

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Marcia L. Miller, MBA, EA is President and Owner of Financial Horizons, Inc. 

Marcia’s experience spans over four decades of Accounting, Tax and Management Consulting for a practice with emphasis on representing Small Business Owners in all aspects of Taxes, Employment & Labor Issues, Pensions, Estate Planning as well as Federal, State (Nationwide) and Foreign mandatory reporting.

As an author, webinar expert, and live speaker for various national companies & accounting organizations at their annual conferences, she has shared her expertise on a multitude of current business taxation and accounting topics.

As a recognized Thought Leader and Speaker in the World of Information Reporting and commonly referred to as the "1099 Queen", Marcia was appointed to, and successfully completed a three-year term, as a Committee Member, to the Internal Revenue Service's Information Reporting Program Advisory Committee (IRPAC). 

She received both her MBA and BBA from the University of Miami School of Business.

Additional Materials
Webinar Technical FAQs
Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
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Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) 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.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

Irs

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

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Financial Horizons, Inc. is an expert tax and consulting practice based in Ponte Vedra, FL, assisting taxpayers with their individual & business tax preparation and planning requirements.