The Sole Proprietor: Getting Ready for Preparing the 2023 Schedule C
- Course Description
There are more Schedule C returns filed than all other business entity returns combined. While the sole proprietorship has many of the same attributes as a partnership and a corporate entity, there are some unique tax considerations that may make it a more desirable tax entity. This course will look at the federal tax considerations of the sole proprietorship that are presented as a result of the Tax Cuts and Jobs Act (TCJA) and the subsequent COVID-19 regulations from both the IRS and the Small Business Administration (SBA). The session will also look at some of the record keeping challenges for the sole proprietor as well as the fact that a balance sheet is not an obstacle in completing the return.
- Learning Objectives
At the completion of this session, the participants will be able to better:Prepare the Schedule C, and advise their clients:
Take into consideration the tax planning opportunities for the sole proprietor;
Understand the tax compliance requirements for the sole proprietor; and
Use best practices in the operations of the business and preparation of the business financial records.
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Your certificate will be emailed to you within 10 business days of the completion of the course.
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