Business Expenses Mini-course (2 hrs)

Current Status
Not Enrolled
Get Started
Course Description

Business Expenses

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 mini-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.

Course Information

Price: $24

This course is included in our Mega CPE Special and our Unlimited Tax Bundle

Course No. M050
Format: Online pdf (68 pages). Printed book available.
Instructional Delivery Method:
QAS Self-Study
Prerequisites: General understanding of federal income taxation.
Advance Preparation: None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Taxes: Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: February 2024


Course topics:

* Section 162
* Expenses of not-for-profit activities
* Rent expenses
* Interest expense
* Deductible taxes
* Other selected deductible costs
* Amortization
* Depletion -§613
* Business bad debts
* Depreciation

Upon completion of this course you will be able to:

  1. Cite the elements of §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.
  2. 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 §162.
  3. Recognize methods of amortization for business startup, organizational costs, and §179 intangibles with the cost depletion methods used on natural resources.
  4. Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under §166.

Ratings and Reviews

Avg. Rating
1 Ratings
What's your experience? We'd love to know!
Posted 1 year ago
Ease of learning

Easy read and well prepared to take the quiz

Preview Image
Show more reviews
What's your experience? We'd love to know!
Course Categories

Leave a Reply