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

4.26 (343 reviews)
Income Tax – Schedule C Small Business Sole Proprietor
23.5 hours
May 2023
last update
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

Why take this course?

🚀 **Master Small Business Taxes with Ease!** 🏫 **Course Title:** Income Tax – Schedule C Small Business Sole Proprietor **Headline:** Dive Deep into Schedule C Income Tax Preparation for Small Business Owners! --- **Course Description:** Are you a small business owner or aspiring tax professional looking to conquer the complexities of Schedule C? Look no further! Our comprehensive online course is designed to demystify income tax preparation for sole proprietors using actual tax forms. With Robert (Bob) Steele at the helm, you'll navigate through the intricacies of Form 1040 and Schedule SE with confidence. **Why Take This Course?** - **Real-World Application:** We believe in learning by doing. That's why we use actual tax forms to illustrate concepts and work through problems. - **Multiple Learning Angles:** Each new concept is presented, then illustrated with examples – because seeing it in action can transform how you understand it. - **Excel Mastery:** Learn to apply the accounting equation method using Excel, allowing you to visualize the tax form impact and understand the financial mechanics behind your returns. - **Detailed Breakdowns:** Schedule C income adds layers of complexity to your tax return. We'll break it down into digestible parts with practical examples tailored just for you. **Course Highlights:** - **Self-Employment Tax Calculation:** Discover how to calculate self-employment tax when you have Schedule C income, and learn how a portion might be an adjustment to your income. - **Accounting Periods & Methods:** Explore the accounting periods and methods that suit your business best, ensuring you make informed decisions for your financial health. - **Business Income & Costs:** Grasp the nuances of reporting business income, calculating cost of goods sold, and determining gross profit if applicable. - **Expense Management:** Understand what constitutes a business expense, how to report them, and delve into the most common categories with plenty of examples to ensure clarity. - **Home Office Deductions:** Learn about the significant deductions available for business use of your home and how to properly claim these on your taxes. **What You Will Learn:** - **Complexity of Schedule C:** We'll introduce you to the intricacies of Schedule C and its impact on your tax return. - **Business Expenses:** Identify what expenses are deductible, how to report them, and understand the various categories that apply to your business. - **Home Office Deduction:** Explore the ins and outs of claiming a home office deduction, including qualifying requirements and calculation methods. **Join Us on This Taxing Adventure!** Whether you're a seasoned professional or new to the world of small business taxation, this course is designed to provide you with the knowledge and tools needed to prepare Schedule C income taxes with greater skill and accuracy. With Robert (Bob) Steele as your guide, you'll gain a deeper understanding of tax preparation for small businesses using practical examples and real-life scenarios. 📆 Enroll now and take control of your small business tax obligations! 📆 --- **Key Takeaways:** ✅ Real Tax Forms & Examples ✅ Excel Method for Financial Visualization ✅ Step-by-Step Guide to Schedule C Complexities ✅ In-Depth Analysis of Business Expenses and Deductions ✅ Home Office Deduction Strategies ✅ Expert Instruction from Robert (Bob) Steele Don't let tax season catch you off guard! Equip yourself with the knowledge and skills necessary to confidently prepare your Schedule C. Sign up for this course today and transform how you handle small business income taxes. 🎓💪


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Our review

🏅 **Overall Course Rating:** 4.42/5 ## Course Review ### Pros - **Excellent Instructor**: The course is led by a knowledgeable teacher who delivers the content in an engaging manner. They are thorough in explaining tax concepts, which is a rare and valuable trait among instructors. ([Review 1](#)) - **Comprehensive Coverage**: The course effectively covers various tax forms and schedules, providing both foundational knowledge and additional information for those already familiar with the basics. ([Review 2](#), [Review 3](#), [Review 6](#), [Review 7](#)) - **Up-to-Date Information**: The course offers insights on changes and updates to tax laws, which is crucial for staying current in the field. ([Review 5](#), [Review 8](#), [Review 10](#)) - **"Three Perspective Approach"**: The instructor's approach to teaching taxes by explaining the formula, forms (Pubs), and tax software, and how they relate to each other is highly effective. ([Review 7](#)) - **Real-World Demonstrations**: Explanations are accompanied by real demonstrations, which can be particularly helpful for those planning to start their own business or register a single-member LLC. ([Review 10](#), [Review 11](#)) - **Enjoyable Learning Experience**: The course is designed to make learning enjoyable, which enhances the retention of information and overall satisfaction with the course. ([Review 13](#)) ### Cons - **Outdated Content**: Some reviews mention that the information presented is outdated, particularly referring to forms and publications based on the year 2018, which may not reflect current figures. ([Review 9](#), [Review 14](#)) - **Pace of Learning**: The course moves quickly, which might be challenging for beginners who require a more gradual approach to absorb the information. ([Review 12](#), [Review 15](#)) - **Unnecessary PDFs**: Some students felt that separate PDFs for each session could be combined with the sessions themselves to save time and avoid confusion. ([Review 14](#)) - **Lack of Detailed Explanations**: The instructor sometimes instructs students to read IRS publications without providing sufficient in-depth explanations, which can leave students feeling that they're just reading the publications on their own. ([Review 16](#)) - **Need for Exercises and Resources**: A few reviews suggest that having exercises with the instructor, more explanations, and access to the forms and spreadsheets during the course would enhance learning. ([Review 14](#)) - **Updates and Recommendations**: Some students recommend updating the content every 4-5 years instead of annually, acknowledging that keeping the material current can be challenging but is necessary for relevance. ([Review 8](#)) - **Distracting Visuals**: A few reviews mention that distracting elements on screen, such as random people, could be removed to improve focus during the course. ([Review 17](#)) - **Speaking Speed**: While some found the pace perfect, others suggest the instructor should slow down their speaking speed to ensure clarity and comprehension. ([Review 18](#)) ## Conclusion This course is highly regarded by most students for its comprehensive coverage of tax concepts, engaging delivery, and valuable insights into the current state of tax laws. However, some areas require attention, specifically updating content regularly and providing more detailed explanations and practical exercises. With these improvements, the course has the potential to be an even more invaluable resource for anyone looking to enhance their knowledge of taxes, particularly for small businesses and single-member LLCs.



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