Date: February 12 , 2025  

Time: 1pmET | 12pm CT | 11am MT | 10am PT

Duration: 120 Minutes

As tax season approaches, it’s crucial for sole proprietors and tax professionals to stay up-to-date with the latest updates to Schedule C. This CE course provides an in-depth review of critical changes for the 2024 tax filings, including updated mileage rates and revised Qualified Business Income (QBI) thresholds. Led by seasoned experts, you’ll gain a comprehensive understanding of these updates and how to apply them effectively in your tax preparation and advisory practices.

As tax regulations evolve, so do the accounting methods and compliance standards that govern them. This course goes beyond basic updates, offering a thorough exploration of essential accounting principles such as cash and accrual accounting. You’ll also learn how to handle prepaid expenses, meet reporting obligations, and efficiently manage contractor payments. Additionally, we’ll cover strategies for maximizing deductions for home office expenses and navigating depreciation rules for business assets like vehicles—ensuring compliance every step of the way.

Major Topics:

• 2024 Mileage Rate Increase
• Revised Qualified Business Income (QBI) Thresholds
• Understanding Cash Accounting Methods
• Home Office Deduction Guidelines
• Self-Employed Retirement Plan Options

Learning Objectives:

• Analyze the updates to the 2024 Schedule C requirements.
• Review changes in mileage and depreciation rates for accuracy.
• Identify QBI thresholds and their application for different filing statuses.
• Explain rules for cash and accrual accounting methods.
• Discuss compliance requirements for issuing 1099s to contractors.

Upon completion, participants will have a solid grasp of Schedule C updates, practical tax strategies, and the latest compliance requirements. With this knowledge, you’ll be prepared to confidently navigate the complexities of the upcoming tax season.

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Jason Dinesen , EA President, Dinesen Tax & Accounting, P.C.
Jason Dinesen is a seasoned tax professional, educator, and entrepreneur with a passion for simplifying complex tax concepts. He is a go-to expert in accounting, bookkeeping, tax preparation, business advisory and interpretations of tax laws and regulations.