Small Business Tax Guide (CPE Course)

CPE Credit: 10 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $70

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Course Description
The owner of a small business who has a reasonable knowledge of tax issues can save a substantial amount of money. The Small Business Tax Guide keeps you informed of the tax rules, so that you can take advantage of what the law allows. To this end, the Guide covers such matters as vehicle expense deductions, accelerated depreciation, payroll tax requirements, the deductibility of fringe benefits, the home office deduction, tax considerations for a family business, and much more.

Author: Steven Bragg

Course Number: TX1035

Table of Contents:
Chapter 1. Tax Basics
Chapter 2. Long-Term Business Assets
Chapter 3. Business Losses
Chapter 4. Payroll Issues
Chapter 5. Fringe Benefits
Chapter 6. Types of Entities
Chapter 7. Tax Considerations for a Family Business
Chapter 8. The Home Office Deduction
Chapter 9. Merger and Acquisition Tax Issues
Chapter 10. Problems with the IRS

IRS Program Number: 72821-T-00079-24-S

Learning Objectives

  • Identify the types of laws and how they are created.

  • Specify the characteristics of the marginal tax rate.

  • Describe how the constructive receipt concept works.

  • Identify what constitutes a capital expense.

  • Specify how to deal with start-up and organizational costs.

  • Identify which business expenses can be immediately deducted.

  • Recall the characteristics of tangible and intangible assets.

  • Specify the various types of listed property.

  • Describe the rules pertaining to Section 179 expensing.

  • Specify the characteristics of depreciable assets.

  • Specify the rules used to control the amount of net operating losses recognized.

  • Specify the characteristics of contractors and employees.

  • Recall how the Form W-4 is used.

  • Recall the payroll tax requirements for a self-employed person.

  • Specify the methods used to calculate payroll for employees.

  • Identify the deposit schedules used to send payroll taxes to the government.

  • Recall the circumstances under which the Form 941 must be filed.

  • Recall the calculation method for the federal unemployment tax.

  • Specify the tax implications of the various employee benefit types.

  • Identify the factors that indicate whether an operation is a hobby activity.

  • Recall the advantages and disadvantages of the various business entity types.

  • Specify the tax issues pertaining to a partnership.

  • Identify the types of entities that could be classified as a personal services corporation.

  • Recall why the dividends received deduction is used.

  • Specify how an S corporation can lose its status.

  • Identify the tax issues related to a family-owned business.

  • Recall the tests to see if the home office deduction can be used.

  • Specify the methods used to determine the amount of the home office deduction.

  • Identify the characteristics of the various types of acquisitions.

  • Recall how appraisal rights are to be used in an acquisition.

  • Specify the outcome of an asset acquisition.

  • Identify the process for appealing an adverse examination report.

  • Recall the contents of the Taxpayer Bill of Rights.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Taxes

Prerequisites: None

Advance Preparation: None

Latest Review Date: April 2024

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, 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 the 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.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.