Business Taxation 2020

  • Credits: 24
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Update
  • Author/Speaker: Danny Santucci, CPA
Course ID: Advanced Preparation: Experience Level:
EWTFM-U-01650-20-S | 6233-CE-0374 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© July 2020 General Understanding of Taxes Self-Study eBook
COURSE DESCRIPTION

Americans who want to be their own boss are not entirely on their own. They have a rich uncle - Uncle Sam - who is there to help, as well as to make demands. The Nation's tax laws are intended to encourage people to start new businesses and are chock full of incentives and tax breaks, as well as sometimes onerous reporting requirements.

This course is a fast-paced and entertaining guide through tax issues affecting business entities and their owners. The focus of this class is on tax devices and techniques available to the small-business owner. Emphasis will be given to operational deductions, fringe benefits, compensation, family income splitting, retirement plans, and estate planning.

Topics include:
  • Sole proprietorships
  • Partnerships
  • Regular corporations
  • Recordkeeping
  • Kinds of records to keep
  • Business transactions
  • Bookkeeping systems
  • How long to keep records
  • Accounting periods & methods
  • Inventories

Learning Objectives:

After reading the course material, you will be able to:

  • Recognize sole proprietorships, partnerships, and corporations as organizational formats for new and existing businesses.
  • Identify how choice of entity relates to the type of records to keep, listing issues related to substantiation and documentation.
  • Specify available accounting periods and methods and the methods for identifying and valuing inventory items.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA
IRS
CTEC