Small Business Taxes Made Easy: Recordkeeping (Currently Unavailable)

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. Too many small businesses totally overlook proper record-keeping requirements. This course will explain why good records are crucial to a business, what cash and accrual accounting systems mean, various types of recordkeeping systems, which records are essential and how long to keep them.

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
• Double”Entry vs Single”Entry
• Balancing Tricks
• Accounting Systems
• Accounting Concepts
• What Records to Keep
• How Long to Keep Records

Learning Objectives

• Recognize the reason good business and tax records are important, how they can make the business more profitable, and how to make the process the least painful possible
• Identify true statements regarding year end filings
• Identify which reports the single-entry systems can generate
• Recognize which records to keep forever
• Recognize the lease favorable accounting system you want your client to provide
• Describe the benefit of a double-entry accounting system
• Identify the best way to get your clients to pay you on time
• Recognize the questions in the To-Do-List and Questionnaire

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None