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

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I Learn?

• 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

Requirements

• Some understanding of US income tax law

Target audience

• Anybody who wants to save on taxes & has a small business
• Tax professionals