Tax Savvy for Small Businesses - 20 CPE hours (TAX552)

Regular price $139.00 Sale price $97.00


  • Explain what the IRS considers to be income versus what is not considered income.
  • Understand the three rules for a business expense to be deductible.
  • Compare the standard mileage deduction and the actual expense method.
  • Contrast current expenses and capital expenses.
  • Define depreciation and how an asset is considered to be depreciable.
  • Define MACRS and its differences from the straight-line method of depreciation.
  • Explain the importance of having a bookkeeping system.
  • List the various records a business owner needs to keep.
  • Define a NOL.Compare an employee to an independent contractor.
  • Describe the four types of employee tax categories.
  • Explain the pros and cons of being a solo.
  • Explain the steps a person would take to set up a corporation.
  • Describe the two differences between a C corporation and an S corporation.
  • Explain the tax obligations of partners.Define a QPSC.
  • Describe home office expenses and the rules surrounding a home office qualifying as a deduction.
  • Explain how fringe benefits save taxes.
  • Explain the various types of retirement plans.
  • Compare a tax lien to a tax levy.
  • Describe how a small business becomes targeted for an audit.
  • Describe how a business owner can prepare for an audit.
  • Explain the components of an appeal letter. ​​

Program Level: Basic
Prerequisites: None
Advanced Preparation: None
Instructional Method: This program is a QAS Self Study offering.
Field of Study: Taxation

Registration Requirements: In order to purchase this program, you can add this course to your cart and continue with the purchase, or you may contact Angela Perkins at or 1-866-412-5352.

Program Refund Policy: Your satisfaction is our first goal. All courses may be returned for a refund or exchange within 30 days of purchase provided the materials have not been used and the tests have not been taken. Shipping and handling charges are not refundable. For more information regarding administrative policies such as complaint and refund, please contact our offices at 1-866-412-5352.

Complaint Resolution Policy: All complaints will be handled in a timely and efficient manner to ensure the complete satisfaction of our students. For more information regarding administrative policies such as complaint and refund, please contact our offices at 1-866-412-5352.

CPE World 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 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:

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