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English

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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

4.44 (151 reviews)

4385

Students

9.5 hours

Content

Mar 2019

Last Update
$124.99
Regular Price


What you will 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


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



Screenshots

Income Tax – Schedule C Small Business Sole Proprietor
Income Tax – Schedule C Small Business Sole Proprietor
Income Tax – Schedule C Small Business Sole Proprietor
Income Tax – Schedule C Small Business Sole Proprietor

Content

Introduction

Introduction

315 Tax Forms & Line Items Involved

Documents to Download for Reference

318 Sch. C Data Entry

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Are Your Self-Employed?

321 Are You Self-Employed

PDF - 324 Business Owned and Operated by Spouses

324 Business Owned and Operated by Spouses

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What's New for 2018

PDF - 327 What's New for 2018

327 What's New for 2018

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Identification Numbers

PDF - 331 Identification Number

331 Identification Number

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Self-Employment (SE) Tax

PDF - 334 Self-Employment (SE) Tax

334 Self-Employment (SE) Tax

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Which Forms Must I File?

PDF - 337 Which Forms Must I File

337 Which Forms Must I File

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Employment Taxes

PDF - 341 Employment Taxes

341 Employment Taxes

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Accounting Periods and Methods

PDF - 344 Accounting Periods and Methods Introduction

344 Accounting Periods and Methods Introduction

PDF - 347 Accounting Methods Cash Method

347 Accounting Methods Cash Method

PDF - 351 Accounting Methods Accrual Method

351 Accounting Methods Accrual Method

PDF - 355 Accounting Methods Combination Method

355 Accounting Methods Combination Method

PDF - 358 Accounting Methods Inventories

358 Accounting Methods Inventories

PDF - 361 Change in Accounting Method

361 Change in Accounting Method

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Business Income

PDF - 364 Business Income Introduction

364 Business Income Introduction

PDF - 367 Business Income Kinds of Income

367 Business Income Kinds of Income

PDF - 371 Business Income - Kinds of Income Bartering for Property or Services

371 Business Income - Kinds of Income Bartering for Property or Services

PDF - 374 Real Estate Rents

374 Real Estate Rents

PDF - 377 Personal Property Rents

377 Personal Property Rents

PDF - 381 Items That Are Not Income

381 Items That Are Not Income

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Guidelines for Selected Occupations

PDF - 384 Guidelines for Selected Occupations

384 Guidelines for Selected Occupations

PDF - 387 Accounting for Your Income

387 Accounting for Your Income

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How To Figure Cost of Goods Sold

PDF - 391 How To Figure Cost of Goods Sold Introduction

391 How To Figure Cost of Goods Sold Introduction

PDF - 394 Figuring Cost of Goods Sold on Schedule C, Lines 35 Through 42

394 Figuring Cost of Goods Sold on Schedule C, Lines 35 Through 42

PDF - 397 Inventory at Beginning of Year

397 Inventory at Beginning of Year

PDF - 401 Purchases Less Cost of Items Withdrawn for Personal Use

401 Purchases Less Cost of Items Withdrawn for Personal Use

PDF - 404 How To Figure Cost of Goods Sold Cost of Labor

404 How To Figure Cost of Goods Sold Cost of Labor

PDF - 407 How To Figure Cost of Goods Sold Materials and Supplies, Other Costs,

407 How To Figure Cost of Goods Sold Materials and Supplies, Other Costs, Invent

PDF - 411 Figuring Gross Profit

411 Figuring Gross Profit

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Business Expenses

PDF - 414 Business Expenses Introduction

414 Business Expenses Introduction

PDF - 417 Car and Truck Expenses

417 Car and Truck Expenses

PDF - 421 Car and Truck Expenses

421 Car and Truck Expenses

PDF - 424 Depreciation

424 Depreciation

427 Example - Depreciation

PDF - 427 Employees' Pay

427 Employees' Pay

427 Example - Employees' Pay

PDF - 431 Insurance

431 Insurance

PDF - 432 Example Insurance

432 Example Insurance

PDF - 434 Interest Expense

434 Interest Expense

PDF - 437 Legal and Professional Fees

437 Legal and Professional Fees

PDF - 441 Pension Plans

441 Pension Plans

PDF - 444 Rent Expense

444 Rent Expense

PDF - 447 Taxes Deduction

447 Taxes Deduction

PDF - 451 Travel and Meals Deduction

451 Travel and Meals Deduction

PDF - 454 Business Use of Your Home

454 Business Use of Your Home

PDF - 455 Example - Business Use of Your Home

455 Example - Business Use of Your Home

PDF - 457 De Minimis Safe Harbor for Tangible Property

457 De Minimis Safe Harbor for Tangible Property

PDF - 461 Other Expenses You Can Deduct

461 Other Expenses You Can Deduct

PDF - 464 Expenses You Cannot Deduct

464 Expenses You Cannot Deduct

PDF - 467 Figuring Net Profit or Loss

467 Figuring Net Profit or Loss

PDF - 471 Excess Business Loss Limitation

471 Excess Business Loss Limitation

PDF - 474 Net Operating Losses (NOLs)

474 Net Operating Losses (NOLs)

PDF - 477 Not-for-Profit Activities

477 Not-for-Profit Activities

PDF - 481 Who Must Pay SE Tax

481 Who Must Pay SE Tax

PDF - 484 Special Rules and Exceptions

484 Special Rules and Exceptions

PDF - 487 Figuring Earnings Subject to SE Tax

487 Figuring Earnings Subject to SE Tax

PDF - 491 Figuring Earnings Subject to SE Tax Regular Method

491 Figuring Earnings Subject to SE Tax Regular Method

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Reviews

C
Carol17 February 2021

The instructor is very knowledgeable of schedule C for Small business. However, the information presented it out dated. What I would’ve liked for the course is to do exercises with the instructor have more explanations as to why certain numbers go where and why. It would have been great to have a the excel spreadsheet he was presenting the class with also available with each tab available to the class. I would’ve been great to have the Schedule C form he was teaching with and we did a walk through to get a better understanding of schedule C. Also, what really would have been better is the information was updated. But what I didn’t understand is why each session has separate pdf’s when it could’ve been add to each session this made the class longer and a waste of time. I rate the course 2 star’s the information is not updated and I didn’t learn anything from it.

M
Mark30 January 2021

Great match. I like his " Three Perspective Approach" to teaching taxes, "Formula, Forms(Pubs) and Tax Software" and how they all relate to each other. Very well done.

A
Alexis3 January 2021

It's an overview, so I understand why the lesson went so quickly. Hopefully he will slow down in the next Section.

T
Todd12 August 2020

This course is reinforcing my existing knowledge and teaching me some additional information relating to Sole Proprietorship taxes. This course is benefiting me greatly thus far.

A
Ashley29 July 2020

For a beginner it was jammed pack with information that I really have no foundation on. I didn't know what notes to take or if I should take any at all. Basically I got that one form flows through other forms. Form 1040 is the front of the form and breaks down all the other forms such as Sch. C and SE. Also, Sch C is calculating your SS and Medicare which. That cost helps to calculate your SE tax on the SE Form. If that is what you wanted me to learn then awesome! It just felt scrambled.

C
Cherry28 May 2020

This course has provided me with tidbits of important information that I was not aware of. The information on changes and updates are great.

J
James26 January 2020

Excellent course. Excellent knowledgeable teacher(understatement). Engaging delivery. Does not read off slides. This Instructor is very thorough and explains all the tax concepts really well. Very few instructors do that. Just take all his courses you will be glad you did.

O
Oretha27 September 2019

Yes, it is definitely a good match for me. The instructor has done an excellent job with explaining the concepts of the schedules and forms. Thank you.



Coupons

StatusDateDiscount
Expired10/7/2019100% OFF
Expired11/7/2019100% OFF

2281074

Udemy ID

3/20/2019

Course created date

10/7/2019

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