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, February 4, 2020 9:30 am- 12:30 pm

Part 2: Wednesday, February 5, 2020 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.

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February 4, 2020 - February 5, 2020
9:30 am - 12:30 pm


California Capital Women’s Business Center
1792 Tribute Rd #270
Sacramento, CA 95815
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