Preparing Schedule C for Sole Proprietors On-Demand Webinar

Summary

Sole proprietorships are the most simple and common form of business ownership. They report their business activities on Schedule C (Form 1040), Profit or Loss From Business (Sole Proprietorship). During the webinar, we’ll focus on completing a Schedule C by identifying taxable income and deductible expenses, including business meals, calculating cost of goods sold (COGS), comparing and contrasting standard mileage and actual expenses for vehicle expenses, and determining the taxpayer’s eligibility for the home office deduction.

Objectives

Upon completion of this course, you will be able to:

• Identify taxable income and deductible expenses
• Calculate cost of goods sold (COGS)
• Explain the difference between actual expense deduction and standard mileage
• Summarize home office deduction requirements
• Prepare Schedule C

Course Details

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.