Course curriculum

    1. 6020 Sch. C Impact on Tax Return Software

    2. 6040 Are You Self-Employed

    3. 6060 Business Owned & Operated by Spouses

    4. 6062 Business Owned & Operated by Spouses Example

    5. 6080 Self-Employed – What You Need to Know

    6. 6100 Sch. C What’s New for 2022

    7. 6120 Sch. C Identification Numbers

    8. 6130 Small Business - How to Pay Income Tax

    9. 6140 Self-Employment (SE) Tax

    10. 6142 Self-Employment (SE) Tax Example

    11. 6160 Employment Taxes

    12. 6162 Employment Taxes Example

    13. 6180 Excise Taxes

    14. 6200 Information Return

    15. 6220 Accounting Periods and Methods Introduction

    16. 6240 Accounting Methods Overview

    17. 6260 Cash Method

    18. 6280 Accrual Method

    19. 6300 Combination Accounting Method

    20. 6305 Inventory, Uniform Capitalization Rules & Changes in Accounting Method

    21. 6400 Business Credits

    22. 6420 Business Income Part 1

    23. 6380 Dispositions of Business Property

    24. 6382 Dispositions of Business Property Example

    25. 6425 Business Income Part 2

    26. 6452 Items That Are Not Income

    27. 6455 Accounting for Your Income

    28. 6490 How To Figure Cost of Goods Sold39e9727.autosave

    29. 6495 Figuring Gross Profit

    30. 6497 Cost of Goods Sold & Gross Profit Example

    31. 6520 Business Expenses Introduction

    32. 6525 Business Expenses Bad Debts

    33. 6530 Business Expenses Car and Truck Expenses

    34. 6532 Business Expenses Car and Truck Expenses Example

    35. 6534 Depreciation Overview

    36. 6535 Depreciation Office Home, Land, Excepted Property & Basis Adjustment

    37. 6536 Depreciation Timing & Method

    38. 6537 Depreciation - Patents & copyrights, Computer software, & Certain created intangibles

    39. 6538 Depreciation - Election To Exclude Property From MACRS, Use of standard mileage rate, & Basis

    40. 6540 Section 179 Deduction Part 1

    41. 6541 Section 179 Deduction Part 2 How Much Can You Deduct

    42. 6542 Section 179 Deduction Part 3

    43. 6543 Special Depreciation Allowance

    44. 6546 Depreciation MACRS - Overview

    45. 6547 MACRS Depreciation – Which Property Class Applies Under GDS

    46. 6548 MACRS Depreciation – What is the Basis for Depreciation

    47. 6549 MACRS Depreciation – Which Recovery Period Applies

    48. 6550 MACRS Depreciation – Which Convention Applies

    49. 6551 MACRS Depreciation Which Depreciation Method Applies

    50. 6552 MACRS Depreciation – How is the Depreciation Deduction Figured Part1

    51. 6553 MACRS Depreciation – How is the Depreciation Deduction Figured Part 2

    52. 6554 MACRS Depreciation – Additional Rules for Listed Property

    53. 6559 MACRS Depreciation Examples

    54. 6562 MACRS Depreciation Examples Part 2

    55. 6564 Section 179 Deduction Examples

    56. 6566 Special Depreciation Allowance Examples

    57. 6570 Business Expenses Employees’ Pay

    58. 6577 Business Expenses Insurance

    59. 6578 Business Expenses Insurance & Payroll Expense Example

    60. 6581 Business Expenses Interest

    61. 6584 Business Expenses Legal and Professional Fees

    62. 6588 Business Expenses Pension Plans

    63. 6589 Business Expenses Pension Plans Example

    64. 6590 Business Expenses Rent Expense

    65. 6600 Business Expenses Tax

    66. 6602 Business Expenses Tax Example

    67. 6610 Business Expenses Travel and Meals

    68. 6620 Business Use of Your Home

    69. 6622 Business Use of Your Home Example

    70. 6630 De Minimis Safe Harbor for Tangible Property

    71. 6640 Expenses You Cannot Deduct

    72. 6650 Figuring Net Profit or Loss

    73. 6660 Figuring Self-Employment (SE) Tax

    74. 6672 Reporting Self-Employment Tax Example

About this course

  • $50.00
  • 74 lessons
  • 23 hours of video content

Description

This course will focus on tax preparation for taxpayers who have self-employment incomed 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.