Clarify the purpose of both Schedules C and E and learn specific tax planning strategies.
Both Schedule C and Schedule E are used for reporting income on an individual income tax return. While the information may be similar, the tax implications can be very different. Misapplying a business activity to the incorrect schedule can have significant consequences on the tax liability reported on Form 1040. It is important for the practitioner to be fully informed as to the appropriate use of the forms to report their business activity. This course is designed to clarify the purpose of both Schedules C and E and will discuss the proper use and reporting of Schedules C and E, as well as specific tax planning strategies.
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