Business Tax Concepts You MUST Know (Parts I and II)

Event Details

Business Tax Concepts You MUST Know (Parts I and II)

Part 1: Tuesday, September 10, 2019 9:30 am- 12:30 pm

Part 2: Wednesday, September 11, 2019 9:30 am- 12:30 pm

***Please Note:This is a two part class. You are automatically registered for BOTH classes when registering.

In Part 1 You will learn:

• How operating a business creates tax benefits.
• For-profit versus nonprofit activities.
• The necessity of “profit motive” for deductions and tax benefits.
• Filing 1099s and the penalty trap.
• IRS audits of businesses.
• Requirements for tax deductions.
• Start-up expenses.
• TCJA: updated business vehicle deductions.
• Home office deduction.
• The necessity of “profit motive” for deductions and tax benefits.
• TCJA: new QBI deduction.
• Self-employed health insurance deduction and Health Savings Accounts.
• TCJA: updated meals and entertainment expenses.
• Recordkeeping to protect tax benefits.

In Part 2 You will learn:

• Employees and independent contractors—the differences.
• Misclassified employees—new enforcement; higher penalties.
• Tax & legal biz structures—differences in taxes, fringe benefits & protections
• Sole props, partnerships, LLCs and corporations—the differences
• What must be done to get LLC or corporation benefits?
• Out-of-state entities doing business in California.
• Asset protection and alter ego.
• Tax treatments of vehicles used for LLCs and corporations..
• Health insurance and medical expenses for entities and employees.
• Hiring your spouse and dependent children.
• Loans to or from your LLC or corporation.
• Recommended entities.

Bio of Instructor: Randy Roth, EA, MSFS Randy Roth is a tax, estate & business consultant, providing services to individuals, businesses, estates, trusts and non-profit organizations. He advises in the formation of business entities, corporate compliance matters, real estate holdings and non-profits—as well as in their on-going maintenance. He is an owner and principal of Incompass Tax, Estate & Business Solutions, an Enrolled Agent with a Masters specializing in Estate Planning and Taxation and has been in business for over thirty years.

Register Here!