Explore

Income Tax – Schedule C Small Business Sole Proprietor

9.5 hours on-demand video

$ 19.99

Save Course

Go to Course

Brief Introduction

Small business, schedule C income tax preparation using actual tax forms for examples including form 1040, Schedule SE

Description

Small business income taxes generally reported on schedule C course including examples using actual tax forms to understand income tax concepts better.

We will discuss who is required to file a schedule C for small business income and who is self-employed.

The course will discuss new tax changes for 2018 related to small businesses.

We will discuss what self-employment tax is, how to calculate it, and how to report it.

The course will cover which tax forms a self-employed business will generally need to file and how the forms are related to each other, using actual tax forms as an example.

We will discuss different accounting methods and periods including the cash method and the accrual method and when the tax code may require one method versus another as well as when the tax code requires a deviation from the accounting method used.

The course will discuss what is included in business income and the types of business income.

We will discuss the components of cost of goods sold, how to calculate cost of goods sold, and look over the tax forms related to the cost of goods sold calculation.

The course will discuss many common business expenses. Including

· Car and truck deduction

· Depreciation deduction

· Employees’ pay deduction

· Insurance deduction

· Interest deduction

· Legal and professional fees deduction

· Pension plans deduction

· Rent deduction

· Taxes deduction

· Travel and meals deduction

· Business use of your home

· Other Expenses you can deduct

Requirements

Requirements
Some understanding of US income tax law

Knowledge

What It Means to Be Self-Employed
How to Report Self Employment Income
Filing and Paying Business Taxes
Identification Numbers Including EIN Number
Self-Employment (SE) Tax
Employment Taxes
Accounting Periods and Methods
Business Income & Expenses
How To Figure Cost of Goods Sold
Car and Truck Expenses
Depreciation Expense
Employees' Pay Expense
Insurance Expense
Interest Expense
Legal and Professional Fees Expense
Rent Expense
Pension Plans Expense
Taxes Expense
Travel and Meals Expense
Business Use of Your Home
Other Expenses You Can Deduct

Recommended for you

Accounting–Financial Accounting Total-Beginners to Advanced

Including well over 100 hours of content, e-book (EPUB, MOBI, PDF) ,Excel worksheet, & PDF files, this is comprehensive Recently updated with A LOT of added content....

Save Course

Income Tax – Schedule C Small Business Sole Proprietor

Small business, schedule C income tax preparation using actual tax forms for examples including form 1040, Schedule SE The course will discuss many common business expenses....

Save Course