Show navigation

Live Webinar

100-minute live streaming program
  • September 13
  • 1:00 - 2:40 pm EST

Income Tax Issues for Sole Proprietorships

September 13

Gain a better understanding of challenging tax issues facing sole proprietorships, as well as effective and simple ways to overcome them.

Many individuals operate as sole proprietorships and while they may be skilled in their business, they unfortunately may not have the proper training in the areas of accounting and taxation. This lack of knowledge can cause these individuals to overpay taxes and possibly even run into legal trouble with the government. This topic will explain very simply, in plain language, how both of these issues are easily overcome. You will receive the knowledge to allow them to take full advantage of the provisions in the tax code and to avoid issues with the government or any surprises in April.

Learning Objectives

- You will be able to define Self-Employments tax and understand its impact on your income tax return.

- You will be able to identify the deductions that are applicable to your business.

- You will be able to discuss the new 20% deduction available for Pass-Thru Entities.

- You will be able to review your own accounting records throughout the year to avoid surprises in April.

Purchase Options

In Partnership With

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Understanding Form 1040
  • Income Items
  • Itemized vs. Standard Deductions
  • Tax Credits
Schedule C
  • Overall Bookkeeping Importance
  • Allowable Deductions and Documentation Required
  • Need for Quarterly Estimated Income Tax Payments
Self-Employment Tax
  • Explanation of Self-Employment Tax
  • Income Items Subject and Exempt From Self-Employment Tax
  • Calculation of Self-Employment Tax and Ways to Reduce It
New 20% Deduction for Qualified Business Income of Pass-Thru Entities
  • Explanation of the New Law and It's Huge Benefits
  • Limiting Factors to Be Aware of
  • Various Examples to Enhance Complete Understanding of This Valuable Deduction
Tax Saving Strategies for the Sole Proprietor
  • Employing Your Minor Children
  • Home Office Deduction
  • Automobile and Travel Deductions
Purchase Options

In Partnership With

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: none. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 2.0 hours.
     

Who should attend?

This live webinar is designed for accountants, tax managers, CFOs, controllers, real estate professionals, presidents, vice presidents, business owners and managers, developers, property managers, tax preparers and lenders.

Purchase Options

In Partnership With

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jeffrey D. Skolnick, CPA

Jeffrey D. Skolnick, CPA

Jeffrey D Skolnick CPA, PC

  • Founder of Jeffrey D. Skolnick CPA, PC
  • CPA for 34 years, the last 22 as a sole proprietor
  • Practice serves a wide range of individuals, corporations and partnerships mainly focusing on small business and sole proprietors
  • Frequent speaker and has written numerous publications and books
  • Hosts a Facebook Live every Monday at 12:30 PM EST on various topics of taxation
  • Licensed CPA in the states of New Jersey and New York
  • B.S. degree, University of Maryland; Master’ degree in taxation, Seton Hall University
  • Can be contacted at [email protected] or 732-382-8887
Purchase Options

In Partnership With

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 401786
Published 2018
Purchase Options

Register today before this event fills.