Schedule C From the Ground Up On-Demand Webinar
One of the effects of COVID-19 has been that people are spending more time at home and may be working a “side hustle” to earn a bit of income, like becoming an Instacart shopper or participating in multi-level marketing (MLM) sales. This webinar will introduce you to the Schedule C, Profit or Loss From Business (Sole Proprietorship). The knowledgeable tax professional can assist the taxpayer with the proper reporting of these activities, coach the business owner in good recordkeeping and other skills necessary to run a successful business, or even determining it’s merely a hobby.
Upon completion of this course, you will be able to:
- Complete a simple Schedule C and Schedule SE (Form 1040), Self-Employment Tax, when applicable
- Identify what records need to be obtained from the taxpayer to properly complete the tax return
- Develop a useable recordkeeping system based on the type of business they operate
- Summarize the reporting of some of the newest types of “gig economy” activities including Twitch gamers, social media influencers, Instacart shoppers, and more
- Summarize the hobby vs. business factors
This on-demand webinar includes the presentation slides, exam questions, recording of the webinar broadcast with review questions, and attendee top questions. CPE is issued after exam is successfully completed.
Jaye Tritz, EA, CFP®