Join CPA Doug Stives who was once dubbed ‘The Most Tax Efficient Man in America” by the Wall Street Journal as he reviews the tax benefits of self employment and regular employment and how you can have both at the same time.
The session will explore the benefits of having a full-time job with benefits in addition to self-employment income. With the demise of Miscellaneous Itemized Deductions, the ability to deduct expenses on a Schedule C or E is more useful than ever. But, there are many rules….some that help and some that are disruptive.
Doug Stives is CPA, MBA and full-time professor of Accounting at Monmouth University as well as a professional speaker at many organizations and conferences.
Agenda:
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Understand the value of non-taxable employee benefits such as health insurance
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Learn how to deduct expenses that are normally paid with after tax money including cars, cell phones computers and part of your home costs
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Explore the often-feared Office in the Home deduction
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Understand how to get the maximum benefit from using a car for business
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Review the “Hobby Loss” trap of having to pay tax on all outside income with no deductions allowed.
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Discuss the use of retirement plans to defer self-employment income
