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7 Biggest Misconceptions Business Owners Have About Their Returns

Gain a better understanding of how to properly report business activity as well as tax planning tips and budget goals while complying with the tax laws.

Whether you are starting a new business or are re-evaluating the effectiveness and efficiency of your operations, this topic is geared to provide you with tools to critically analyze 7 critical areas and how some might affect your company moving forward. Have you been called for an audit by the IRS and do not know where to start with answering questions regarding a tax return? Is your tax liability increasing when you thought income was minimum? OR do you think your only way of increasing profit is to lay-off employees? If you answered 'yes' to either of these questions, then this topic is a must. This material will help you re-think your organization structure, tax planning, budget goals and be confident in meeting the demands of Internal Revenue Service. Become a proactive employer and increase opportunities for growth while complying with the tax laws.

Runtime: 96 minutes
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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

Organization May Not Matter?

  • Corporate
  • Partnership
  • LLC
  • Sole Proprietorship

Tax Reporting vs. Tax Budgeting

  • Income and Operating Activities
  • The Work Force
  • Employee Benefits
  • Projected Tax Liability

How to Maintain Records

  • Automated
  • Manual
  • Workflow and Record Accountability

Profit vs. Losses -Losses Rule??

  • Do You Have a Business or a Hobby?
  • Are You Audit Material?
  • Records and Applicability
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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

OnDemand Webinar

This course was last revised on February 27, 2018.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 1.5 live credit hour(s) through the Alabama State Board of Public Accountancy.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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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

DeBorah L. Giles, E.A., ATP, ABA, MBA

DeBorah L. Giles, E.A., ATP, ABA, MBA

Giles and Associates

  • Founder and operating officer of Giles and Associates, a Tax Accounting firm, operating for more than twenty years
  • Giles and Associates tax planning and preparation as well as problem resolution for individuals and sole proprietors as well as small corporations, partnerships, and non-profit organizations
  • To educate on a large scale she writes a bi-annual newsletter targeted to assist clients in tax planning
  • Has also presented tax update seminars sponsored by local community organizations and has written tax articles for local newspapers: The Black Suburban Journal and the University City Review, in the Philadelphia vicinity
  • From one article written in the University City Review, a Philadelphia community newspaper, she was asked to discuss the new tax laws for that year on the local 4:00 CBS News program
  • Longstanding member of both the National Society of Accountants (NSA) and the National Association of Tax Professionals (NATP)
  • She is an Enrolled Agent licensed to practice before the Internal Revenue Service and holds current certifications of an Accredited Tax Preparer and an Accredited Business Accountant
  • M.B.A. degree in Finance, University of Pittsburgh Katz Graduate School of Business Management; B.S. degree, University of Pennsylvania- the Wharton School of Business
  • Can be contacted at 215-386-2026
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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.

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

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Product ID: 401898
Published 2018
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