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How Business Income is Taxed – IRS Forms, Recordkeeping and Filing Requirements
Tuesday, June 13, 2017 @ 9:00 am - 10:30 am
Tuesday, June 13, 2017
9:00 am – 10:30 am
GateWay Community College
Small Business Development Center, South Building
108 N 40th Street
Phoenix, AZ 85034
Learn about the different types of business entities
- Sole Proprietor
- Partnership
- LLC
- S-Corp
- C-Corp
- Others
- Including Corporate Maintenance
- Avoid comingling of money
Learn what is business income
- Revenue minus expenses
- Not cash taken by the owner
- Record Keeping Requirements
Business income tax forms
- Understand which type
How business income is taxed
- Define and discuss flow-through entities
- Self-employment taxes
- When to make an S-election
How to pay income tax on business income
- EFTPS/AZ Taxes
- Quarterly Payments
- Underpayment penalties and how to avoid them