Navigating Schedule C is a two-hour continuing education course examining federal tax issues that can affect sole proprietors and other Schedule C filers.
Presented by Jason Dinesen, EA, the course explores Schedule C beyond basic income and expense reporting. Participants will examine 2026 tax considerations, qualified tips and Form 1099-K reporting, hobby versus business rules, disregarded single-member LLCs, accounting methods, inventory, Form 3115, vehicle expenses, and the tax implications of employing family members.
Practical examples throughout the course demonstrate how these rules can affect Schedule C reporting and other areas of an individual income tax return.
This course counts for 2 hours of IRS CE under the category of Federal Tax Law Related Matters.
What You'll Learn
By the end of this course, participants should be able to:
- Identify 2026 tax considerations relevant to Schedule C filers.
- Explain reporting considerations involving qualified tips and Form 1099-K.
- Apply key factors used to distinguish a business from a hobby.
- Recognize federal tax considerations involving disregarded single-member LLCs.
- Identify accounting method and inventory considerations for qualifying small businesses.
- Evaluate vehicle expense methods and considerations involving business and personal use.
- Recognize federal tax considerations when a sole proprietor employs a spouse or child.
About the presenter:
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.
He has presented dozens of webinars on Form 1099 (for 10 years on this subject!), marriage in the tax code, tax updates, the new Form W-4, payroll updates, filing status, tax credits, corporation and partnership taxation, and other issues relating to the modern-day setting.
Frequently Asked Questions
What Schedule C topics are covered in this course?
The course covers 2026 tax considerations, qualified tips, Form 1099-K, hobby versus business rules, single-member LLCs, accounting methods, inventory, Form 3115, vehicle expenses, and family employees.
How is a single-member LLC treated for federal tax purposes?
The course explains that an LLC with one owner that has not elected corporate taxation is generally treated as a disregarded entity. When the owner is an individual, the activity is generally taxed as a sole proprietorship.
Does the course cover Schedule C accounting methods?
Yes. Participants will review cash, accrual, and hybrid accounting methods and considerations that can arise when a business changes its accounting method.
Are inventory and Form 3115 discussed?
Yes. The course examines inventory considerations for qualifying small business taxpayers, including non-incidental materials and supplies, book conformity, and situations in which Form 3115 may come into play.
Does the course cover business vehicle deductions?
Yes. Participants will examine standard mileage versus actual vehicle expenses, depreciation considerations, business-use percentages, and vehicle loan interest.
What does the course cover about employing family members?
The course examines federal tax considerations involving children and spouses employed by sole proprietors, including payroll taxes, reasonable compensation, fringe benefits, and Section 105 Plans.
