Income Tax Basics for the Small Business
As a small business owner knowing the basics of taxes will help save you money and keep you out of trouble. In this class we will discuss business entities and the different forms for each. We will talk about what is deductible and what is not and where to you use them. How profits and distributions effect your tax bill and many other important subjects that you should know as a business owner.
Key Topics:
Choice of business entity
The 1st years tax elections and their effect
How to deduct assets
Deducting your auto
The returns that you will need to file
The areas that the IRS focus on, should be audited
Tax planning techniques
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