Business Tax Concepts You MUST Know (Parts I)

Event Details

Business Tax Concepts You MUST Know (Parts I)

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.

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