Who this course is for:

• Self-employed tax payers
• Accountants
• Business owners

What you’ll learn: 

• The complexity of Schedule C, identifying the primary areas that will change using practical examples
• How self-employment tax is calculated when there is Schedule C income
• How to report business income
• What a business expense is

Requirements: 

• No prior knowledge is required to take this course

This course will focus on tax preparation for taxpayers who have self-employment income generally reported on a Schedule C.

We will look at each new concept from multiple angles, starting with a presentation discussing the topic and then looking at examples to better understand the concepts in action.

The example section will use tax forms to work problems and an accounting equation method using Excel so learners will understand the impact on the actual tax return and visualize the concepts using a tax formula.

Sole proprietorship income reported on Schedule C adds significant complexity to income tax preparation. This course will start by introducing the complexity of Schedule C to the tax return, identifying the primary areas that will change using practical examples.

Learners will understand how self-employment tax is calculated when there is Schedule C income and how part of the self-employment tax may be included as an adjustment to income.

The course will cover the accounting periods and methods that may be appropriate depending on the business needs.

We will discuss how to report business income and calculate the cost of goods sold and gross profit if applicable.

Learners will understand what a business expense is, how to report business expenses, and the most common categories of business expenses. We will show many examples to solidify the concepts.

We will learn how to report expenses related to the business use of your home, which can be a significant deduction for many businesses.

Our Promise to You

By the end of this course, you will have learned the Schedule C on tax preparation.

 10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

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