(M) Tax Reporting for Sole Proprietors
Sole proprietors and LLCs summarize their tax accounting to the IRS on a Schedule C. The Schedule C collects information about business income as well as expenses, and the resulting net income is reported on Form 1040. In many cases, business owners operating as sole proprietors/LLCs can deduct for business use of the home and of their vehicle. This workshop will cover:
- who can use the Schedule C
- which forms are used for other business structures: corporations, non-profits, and partnerships
- record-keeping requirements
- filling out the Schedule C for service businesses
- filling out the Schedule C for product oriented businesses
- business use of the home calculations
- vehicle expense alternatives and calculations
- depreciation decisions
- subcontractor reporting requirements
- payroll reporting requirements
- state of South Carolina business reporting
- whether you need an accountant
- likelihood of IRS audit
Date and Time
Friday Dec 6, 2019
10:00 AM - 12:00 PM EST
Friday, December 6, 2019 from 10:00 AM to 12:00 PM
Location
North Augusta Community Center
495 Brookside Avenue
North Augusta, SC 29841
Fees/Admission
FREE. Please register in advance at greateraiken.score.org
Website
Contact Information
Robin Warren
Workshops Coordinator
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