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| Lost Profits or Lost Earning Capacity: Estimating Lost Income for the Self-Employed (94Q) |
Course CPE: 2 hours
Field(s) of Study: Economics–1 hr; Finance–1 hr
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.
Advanced Preparation: None
Delivery Method: QAS Self-Study
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Item
Number: 21FL0624LPLE
Shipping Weight: 0lbs. 0oz. |
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$147.00 |
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Recording Date: June 24, 2021
Presenter: Allyn Needham
Program Description:
Estimating lost income for a self-employed person can be one of the most complex analysis an expert may perform. The self-employed person's income may be from the profits of the business, draws and profits from a partnership or salary and profits from a subchapter S corporation. This session will discuss the gathering of data, analyzing income streams, and estimating the self-employed person's lost income. Unique factors affecting this analysis, like spousal involvement in the business, will be reviewed. In addition, the impact of the COVID-19 pandemic to businesses and its impact on assessing this data will be discussed.
After completing this course, you will be able to:
- Determine data needed for assessing the economic damage to a self-employed individual
- Describe the differing ways self-employed individuals report their income and how that affects a lost earnings analysis
- Recognize factors that may affect the self-employed person's losses that are not common among regular employees
- Identify the lost income of a self-employed person using an approach that meets the standards expected by the courts
- Determine the reasoning for the results that makes the expert's findings relevant and reliable for that specific case
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) 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.
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