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Small Business Tax Webinar Series

Small Business Tax Webinar Series
With Roy A. Chaney, Senior Stakeholder Liaison, Internal Revenue Service (IRS)

In this 8-part webinar series, Roy A. Chaney covers a variety of tax-related topics for your small business. With 4 lessons in October 2024 and 4 lessons in January 2025, these 1-hour virtual workshops are intended to prepare you for the tax season.

Upcoming Workshops

Lesson 1: What You Need to Know About Federal Taxes and Your New Business

 

October 9, 2024 | 2 PM

• EIN
• Recordkeeping
• Bookkeeping and accounting
• Accounting Methods
• Types of Business Structures
• Sole Proprietorship
• Partnership
• Corporation
• S Corporation
• Limited Liability Company
• Sharing or Gig Economy
• Choosing a Paid Preparer

Lesson 2: Schedule C and other Small Business Taxes

 

October 16, 2024 | 2 PM

• Form 1040, Schedule C
• Net profit or loss
• Deductions
• Expenses
• Depreciation
• Self-employment tax and estimated tax

 

Lesson 3: Business Use of Your Home

 

October 23, 2024 | 2 PM

• Calculating and claiming the credit
• Requirements
• Deduction limits
• Deductible expenses
• Form 8829
• Comparison Method

Lesson 4: What You Need to Know About Federal Taxes When Hiring Employees/Contractors

 

October 30, 2024 | 2 PM

• Employee vs. independent contractor
• Behavior Control
• Financial Control
• Relationship with Worker
• Hiring employees
• Verify SSN/ITIN
• Form W-2
• Independent Contractors

Lesson 5: How to Manage Your Payroll So You Withhold the Right Amount from Employees

 

January 8, 2025

• Wages subject to employment taxes
• Accountable vs. non-accountable plans
• Calculating payroll taxes
• Employment Tax rules-FUTA

Lesson 6: Tax Deposits and File Your Payroll Taxes

 

January 15, 2025

• Federal tax deposit process
• Deposit rules/penalties
• Reporting Payroll Taxes
• Completing Form 941

Lesson 7: Hiring people who live in the U.S. but are not U.S. citizens

 

January 22, 2025

• Verify employee’s identity and status
• Withhold federal taxes
• Deposit and pay

Lesson 8: How to File and Pay Your Taxes Electronically

 

January 29, 2025

• IRS e-file
• Benefits of e-file
• Electronic payment options
• Enrolling in EFTPS