*Disclaimer: Thank you for participating in the 20 point business checkup. Please consult a licensed Attorney, CPA, Professional Bookkeeper and or Registered Tax Preparer when making important decisions about your business. The following 20 point business checkup is designed to assist you with the basic fundamentals of owning and running a business. Some of the information contained in this business checkup has been extracted from the Internal Revenue Service website. Please visit www.irs.gov for updated rules, publications, laws, exclusions, phaseout periods and standards.
Bookkeeping
Bookkeeping is a crucial part of running a business. The recording of every financial transaction is key to good record keeping. The accounting process involves classifying, reporting and analyzing data. Stay audit proof by creating an internal audit trail of your business financials.
Payroll
Payroll management plays a crucial role in any business operation. Ensure payments and reporting is accurate by automating the payroll process.
Tax
Tax compliance doesn't have to weigh you down. Educating yourself and staying up to date with ES deposits and implementing tax strategies and savings techniques will lesson the burden and headache when filing your taxes.
Course Workbook
Course Curriculum
- Introduction (0:59)
- Types of Entities (0:30)
- The Pros and Cons of Popular Business Entities
- Tax Savings Features of Corporations, S-Corporations, and LLCs
- Governing (0:26)
- Trade Names and Corporate Names (0:17)
- Best Practices
- Hiring Employees and Contractors
- Understanding Form 1099-NEC
- Week Two Summary
- Introduction (0:57)
- The IRS and Taxes
- What is an EIN?
- Why should I file a tax return even if I don’t have to?
- Tips to Protect Your Social Security Number
- The IRS Loves Businesses
- Five Yearly Tax Essentials
- Tax Term Contemporaneous
- Why Are Financial Statements Important?
- Bank Accounts
- Expenses
- Common Business Expenses
- vehicle-mileage-log-D314
- Standard Chart of Accounts
- How long should I save it?
- The New World of Deductions
- What is Bookkeeping?
- Week Three Summary
Congratulations on your new business!
The decision to become a business owner comes with nothing less than bravery, humility and determination. Your dreams and your journey have collided and is working together to create your future. The choices and decisions you make must be calculated and strategic. Skyler is her to help you along the way.
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