Oregon 2 Hour Business Expenses

This course meets 2 hours of continuing education and focuses on deductible business expenses. Basics about bad debts, business structures and tax forms, depreciation, capitalization, and figuring net profit and loss start this course. The next two sections are about common and miscellaneous business expenses. Employee pay, taxes, insurance, interest, rent expense, transportation expenses, and more are explored to refresh the tax preparer on what can and cannot be expensed by a business entity or business owner.  

Next, a section on the business use of the home is thoroughly examined. Qualifying tests, calculating the deduction amount, and when to use specific methods or worksheets are covered. Not far away from this topic is a video about tax relief for businesses that emerged during the pandemic, so tax preparers are sure to incorporate those into their clients' tax returns.

Lastly, we'll spend some time reviewing the unique situations of self-employed individuals, when the self-employment tax applies, how to figure earnings subject to the tax, using Schedule SE, and an introduction to IRS resources about the growing gig economy. 

After each lesson, agents will be asked a single question about the material. A brief exam may be asked to test comprehension.