Many self-employed or sole proprietors find themselves having to navigate Schedule C in reporting business income. While this attachment to Form 1040 seems straightforward on the surface, there are many traps for the unwary. The focus of this two CPE hour course is on Schedule C of Form 1040 (sole proprietorship tax returns). Schedule C is applicable to those who file the basic Form 1040, as well as seniors age 65 and older who file Form 1040-SR instead of the basic 1040.
Major Topics Covered :
- Who does and does not files Schedule C
- Cash vs Accrual Methods
- Cash Method
- Accrual Method
- Business Expenses
- Business or Investment Activity
- Deduction of Trade or Business Expenses
Connect with us as our world – class tax instructors share knowledge in a high – energy, using real life experiences, which helps you understand complex topics in easy manner.
This course is ideal for CPAs, EAs, or other tax professionals.