Business Income and How It is Taxed In this workshop you will learn: • Different types of business entities o Sole-proprietor o Partnership o LLC o S-Corp o C-Corp o Others - Including corporate maintenance - Avoid comingling of money • What business income is o Revenue minuses expenses o Not cash taken by the owner o Recordkeeping Requirements • Business income tax forms o Understand which type o Define & discuss flow-through entities • How business income is taxed o Self-employment taxes o When to make an S-election • How to pay income tax on business income o EFTPS/AZ Taxes o Quarterly Payments o Underpayment penalties & how to avoid them • 2017 Legislative Changes (if any)
Speaker(s): Tanya Luken, Luken CPA
Fee: No Cost
