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Self-Study Courses

Small Business Taxes Made Easy: Income (Currently Unavailable)

2 CPE Credits $31.00/credit hour
★ ★ ★ ★ ☆ 4.5 (9 ratings)
Join the class to learn how to set up or improve your business during this COVID19 time in the world. This course is based on the tips and tools discussed in TaxMama’s latest book, Small Business Taxes Made Easy. Many small business owners make major mistakes when they record their income for tax purposes. Either they include deposits that are not income; or don’t include earnings that are income. This course will help tax professionals identify missing income and to guide tax professionals and business owners on what is taxable income.

Publication Date: June 2020

Designed For
Tax practitioners at all levels regardless of tax practice and Business Owners.

Topics Covered

  • The To Do Checklist
  • Introduction
  • Money In, Money Out, Wave Your Hands All About
  • A Capital Idea
  • What Is Income?
  • Timing of Income
  • A Brief Explanation About "Accrual Basis"
  • Sales Taxes Received—Are They Your Money?
  • Income Rarely Reported
  • The IRS Has a Cash Audit Guide
  • Some 1099s Your Business Receives
  • So What the Heck Is Income?

Learning Objectives

  • Identify what the IRS considers income — even when it's not paid in cash or check
  • Describe business income
  • Describe true statements regarding issuing 1099-MISC
  • Recognize which forms to file and when
  • Identify exampled of barter
  • Describe kinds of income

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

Instructor

Eva Rosenberg

Eva Rosenberg, EA, Your TaxMama® has been a member of NAEA for over three decades. TaxMama® has been teaching Enrolled Agents Exam review courses off and on since developing the program for UCLA Extension over 20 years agoThese days, she’s teaching her own course online at www.irsexams.school

Eva has a B.A. in Accounting and an M.B.A. in International business. Your TaxMama® has been a TaxWatch columnist for Dow Jones' www.MarketWatch.com for nearly 15 years, and award-winning author of two best-selling books, Small Business Taxes Made Easy, (4th edition) published by McGraw-Hill and Deduct Everything! from Humanix Publishing.

As a speaker, TaxMama® is popular with both tax professionals and taxpayers. Please drop by www.TaxMama.com and get answers to tax questions we can't cover here, free, by simply clicking on this link: http://iTaxMama.com/AskQuestion
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