Schedule C - Immediate Deduction and Depreciation Options: Part 2

Master the art of tax savings with this course. Maximize 179 deductions for clients, navigate complexity with bonus depreciation, clearly communicate recapture rules, and explain start-up cost. Boost your tax expertise today!

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Learning Objectives

By the end of this course, participants will:

Identify the key differences between Section 179 deductions and bonus depreciation.
Apply the rules of Section 179 to maximize immediate deductions for business assets.
Analyze scenarios to determine when bonus depreciation is the optimal choice.
Evaluate the impact of depreciation recapture on tax liabilities.
Implement strategies for capitalizing startup costs effectively.

Course Description and Highlights

Why Join This Quest? Embark on an interactive journey through the world of tax deductions and depreciation with our course, "Schedule C - Immediate Deduction and Depreciation Options: Part 2." Engage in mock client meetings and tackle interactive quizzes designed to challenge and enhance your understanding. Led by industry experts with over 17 years of experience, this course offers client-ready visuals to use in your practice. By the end of this course, you'll be equipped with the skills to navigate complex tax scenarios and optimize deductions for your clients.

Course Information

  • Delivery Method: On-Demand (IRS)
  • Program Level: Basic
  • Prerequisite: None
  • Advanced Preparation: None required
  • Field of Study: Federal Tax Topic/Federal Tax Related Matter (IRS)
  • CPE Credits: 1 IRS CE credit
  • Length: 1 hour plus optional Side Quests (no CE for Side Quests)
  • IRS Program Number: NKOMQ-T-00039-25-S

Mastermind Advisors, Inc. (dba Level Up Quest) is recognized and approved by the Internal Revenue Service Return Preparer Office (RPO) as a qualified sponsor of continuing education programs. Webinars are designed to meet all requirements of Circular 230, including sections 10.6 and 10.9. This does not constitute an endorsement by the IRS RPO.

    Course Policies

    • Earning hour/CPE credit:
      Completion of the qualified assessment must be within one year of the date of purchase or enrollment of the course.
    • Refund Policy:
      Refunds are available for the last unused month of a membership. Retroactive refunds for prior months will not be issued. Refund requests are processed within 7–10 business days.
    • Cancellation Policy:
      Participants will be notified via email at least 3 days prior to program cancellations. Updates on new program offerings will be sent if available.
    • Complaint Resolution:
      For complaints, contact Phuc Ly at info@levelupquest.io or 415-871-0169. Complaints will be resolved within 7 business days.
    • Development and Review Process:
      Tax programs include the participation of at least one IRS Enrolled Agent, CPA, or tax attorney in the development or review process.  Accounting programs are developed with the participation of at least one licensed CPA, ensuring compliance with NASBA standards.
    • Enroll:
      Click on the "enroll" button to join the Level Up Quest membership and have access to all of our courses and visuals. 

      Any issues with signing up? Email us at info@levelupquest.io. 

      Instructor

      Phuc Ly

      Present and CEO

      Phuc Ly, an Enrolled Agent (100817EA), holds a Bachelor’s degree from San Jose State University. Phuc has over 17 years of experience in the tax industry, having built and grown Alpha B Group Tax and Bookkeeping into a highly successful firm based in Santa Clara, CA. Under Phuc's leadership, the firm became Yelp’s #1 rated tax firm in the country, managing a diverse client base of around 800 individuals and businesses, primarily focused on those with stock options and complex tax scenarios.Throughout the years of ownership, Phuc trained and developed a team of employees who were capable of handling high-value, client-facing responsibilities. This training empowered them to conduct one-on-one meetings with clients, perform intricate tax planning, and take on complex tasks with minimal supervision. This strategic delegation not only freed up time but also helped grow the firm into a seven-figure business.After selling the tax firm, Phuc’s new mission is to share this experience and knowledge by training the next generation of tax associates. Through Level Up Quest, Phuc focuses on helping tax professionals take on more advanced work, using a unique learning approach that combines visuals, storytelling, and analogies to simplify even the most complicated tax topics. This method ensures that learners grasp key concepts with greater clarity, making tax education more engaging and effective.

      • Video Training
      • IRS: 1 hour CE credit, On-Demand
      This course also includes:
      • Interactive activities
      • Client-ready Visuals
      • IRS Continuing Education Credits
      • Certificate of Completion
      Tap into mentorship and the full spectrum of our course content.

      Only $99/month for group mentorship & full access to all courses with visuals.

      This course also includes:
      • Interactive activities
      • Client-ready Visuals
      • IRS Continuing Education Credits
      • Certificate of Completion