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.
Past 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
RESOURCES
Publication 15, Circular E, Employer’s Tax Guide (PDF)
Publication 334, Tax Guide for Small Business
Publication 505, Tax Withholding and Estimated Tax
Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities
Publication 583, Starting a Business and Keeping Records
Publication 966, Electronic Federal Tax Payment System (A Guide to Getting Started
Publication 1281, Backup Withholding for Missing and Incorrect Name/TIN(s)
Form W-4, Employee’s Withholding Certificate