EA Exam Part 2 – Business Income

Title: Overview of Business Income

Delivery Method: QAS Self-Study                                             

Speaker: Eva Rosenberg, EA,

Credit: 2 CPE hours  (NASBA, EA, OTRP)

Sign up here  $59.00

Intro paragraph:  It’s important to understand the various types of income taxpayers generate.
Some of it is taxable, some is not – and some is not even income.
This course highlights the importance of understanding the treatment of domestic income
and reporting of offshore income, what types of crowdfunding sources are taxable – or not,
and some tips about avoiding the hobby loss trap.

Who should attend: Tax practitioners at all levels regardless of tax practice who want to learn
about the basic income issues, barter, strategies to warn their clients  to avoid, understand how
to handle illegal income – and more. This is more than just a basic income course, but does
not cover capital gains. (That is covered in 3 other courses)

Learning objectives:  To help businesses identify:

  • proper licensing rules – local, state and IRS;
  • questionable uses of retirement funds for business start-ups;
  • ways to report income properly – distinguishing between what is and is not business income;
  • handling of crowd-funding and investments as income, capital or gift,
  • when compensation is not a gift
  • Barter reporting rules,
  • ways to avoid IRS audits when dealing with incorrect 3rd party reports, like 1099s


Topics covered:

  • Business set-up tips
  • ROBS – Rollovers as Small Business Start-ups
  • Complying with state and local licensing
  • What is income?
  • When is it income?
  • Income, when you have to share it with JVs and others
  • Reconciling income across various government filings
  • Reconciling income to lifestyle
  • Income vs Deposits
  • Income vs Gifts
  • Investment income
  • Crowdfunding
  • Dividends
  • Illegal Income
  • Offshore Income
  • 1099s received
  • 1099s with incorrect amounts
  • And more


 Level: Basic

NASBA Field of Study: Taxes

Delivery Method: QAS Self-Study

Prerequisites: None

Advance Preparation: None

Refund Policy: Requests for refunds must be made in writing within 15 days of purchasing the course.
No refunds will be granted after the qualified assessment has been completed.

There is a minimum cancellation fee of $15.00 in addition to the cost of books that have been shipped.

Complaint Resolution: For complaints or concerns, please contact our offices at
http://irsexams.school/contact/ or 818-993-1565

  TaxAnxiety Inc, 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: www.NASBARegistry.org.
NASBA Sponsor #112311