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Business Income and How it is Taxed
Thursday, October 12, 2017 @ 9:00 am - 11:00 am
In this workshop you will learn:
- About the different types of business entities
- Sole-proprietor
- Partnership
- LLC
- S-Corp
- C-Corp
- Others
- Including corporate maintenance
- Avoid comingling of money
- What business income is
- Revenue minuses expenses
- Not cash taken by the owner
- Recordkeeping Requirements
- Business income tax forms
- Understand which type
- Define & discuss flow-through entities
- How business income is taxed
- Self-employment taxes
- When to make an S-election
- How to pay income tax on business income
- EFTPS/AZ Taxes
- Quarterly Payments
- Underpayment penalties & how to avoid them
- 2017 Legislative Changes (if any)