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Section 139 Disaster Relief: Allowing Businesses to Deduct Personal Costs

SECTION 139 DISASTER RELIEF: ALLOWING BUSINESSES TO DEDUCT PERSONAL COSTS

Available Date(s)
Tuesday, August 17, 2021: 4:00PM EDT
Thursday, September 23, 2021: 11:00AM EDT
Thursday, October 28, 2021: 4:00PM EDT
Tuesday, November 30, 2021: 11:00AM EST
Thursday, December 16, 2021: 4:00PM EST

Cost Free
CPE Credits 1.0 hour
Subject Area 1.0 - Taxes (Federal Tax)
CE Credits 1.0 hour
Course Id# - HURS9-T-00754-20-O
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

If this pandemic has a silver lining, Code Section 139 may be just that. Section 139 offers employers a flexible and tax-free way to reimburse employees for certain qualifying expenses incurred because of COVID-19. For example, a business can provide personal gifts, living reimbursements, family costs, etc., to individuals working for the company and these expenses become deductible to the company. It is tax-free and non-reportable to the recipient.

Learn about this strategy for tax firms. With just a few steps, you can save your business clients an average of a thousand dollars per staff member—all while helping their employees (or others like family) with disaster-related home expenses. Qualified expenses may include medical home quarantine, home office, child-care/home care for students, health-related expenses, meals, mental health, and housing.

Learning Objectives:


  • Recognize how Section 139 gives an employer the flexibility to reimburse employees for certain COVID-19 qualifying expenses

  • Identify what expenses qualify under Section 139

  • Recall a case study example of a small business

  • Recall the steps to take to save your business clients thousands of dollars—while simultaneously helping their employees

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Meyertaxconsulting

Jackie Meyer is CEO and Founder of TaxPlanIQ, Certified Concierge Accountant Trainings, and Meyer Tax The Concierge CPA. Jackie specializes in providing innovative tax strategies and coaching programs, such as Certified Concierge Accountant Masterminds, to executive clientele for a high return on investment. She leads her own team of top-tier accountants spanning across the US operating with 100% virtual workflows and is a top-rated speaker, business coach, and social media influencer (Join the Facebook group: Accounting Firm Influencers) with thousands of students and followers. 

She served on the Intuit Tax Council (2016-2019) and the Forbes Finance Council (2019-present). Recent honors include 40 under 40 CPA Advisor Winner (2018/2019/2020) and AICTC (American Institute of Certified Tax Coaches) member of the year (2019). Jackie is a proud proponent for lifelong learning and will complete her Doctorate in Strategic Leadership from Regent University.

Her passion is coaching accounting firm owners, that enjoy tax planning, on exactly what to do to become more efficient, provide a higher return on investment, work with ideal clients, and spend their time bridging passion and purpose in the lives around them. Read more at jackiemeyercpa.com

 

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Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
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NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) 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.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

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EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

Meyertaxconsulting
Our CPA firm, is a full-service, tax preparation accounting firm focusing on family owned businesses and advanced personal taxation. We provide tax preparation with the personalization that is needed with high net wealth clientele's evolving needs. As a CPA firm, we keep up-to-date with the changing tax laws and adhere to certain ethical standards and codes of professional conduct established by governmental bodies and peer organizations.