Form 1040 Schedule C ( Updated 2020 )

• Identify which taxpayer has to file Schedule C
• Explain the difference between the cash and accrual method, and the right period in which taxpayers must know income and/or deductions.
• Develop a working knowledge of related issues, such as reporting the deduction of self-employed health insurance, employment taxes, home office deductions, and proper reporting of employee/independent contractor salaries and retirement contributions.
• Recognize different types of typical deductions, such as advertising, utilities, supplies, etc.
• Identify the methods of deducting the cost of a company car.

Mike Goossen

Advisor, Columns4success

mike@gmail.com

Mike has more than 30 years of experience as a CPA. As Vice President at Entigrity Remote Staffing, he has advised 500+ accounting firms in leveraging remote working and offshore staffing for higher growth and profitability. He is also the author of “Principles of High Performance Leadership”


Columns4success

Columns 4 Success is the result of 30 years of Business experience and ongoing education since I graduated from Fresno State in 1984. Through out those years it has been proven that successful organizations have four things in place. These four things are Leadership, Strategic Focus, Employee Development and Sound Financial Management. I call them Columns 4 Success.

Our mission is to bring life and business into balance through leadership development, strategic planning, employee development and sound financial management for business owners, executive's and the people they lead.

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