Course Description:
Navigating Schedule C tax reporting can be complex for sole proprietors. This comprehensive course is designed to help self-employed individuals, tax professionals, and small business owners understand key tax deductions, reporting requirements, and compliance strategies. Participants will gain insights into business expenses, 1099 reporting, home office deductions, retirement plans, and hobby vs. business classifications. With in-depth discussions and real-world examples, this course ensures you maximize deductions while staying compliant with IRS regulations.
Learning Objectives:
- Understand Schedule C Requirements – Learn what qualifies as a business vs. a hobby and how to properly report income and deductions.
- Master Business Deductions – Explore key deductions, including vehicle expenses, home office deductions, self-employed health insurance, and retirement plan contributions.
- Navigate 1099 Reporting – Understand the requirements for issuing and receiving 1099 forms, including 1099-K and 1099-NEC.
- Optimize Retirement Savings – Evaluate different retirement plans available to sole proprietors, including SEP, SIMPLE IRA, and solo 401(k).
- Identify Common IRS Red Flags – Recognize potential audit triggers and ensure compliance with tax laws to protect your business.
- Apply Real-World Tax Strategies – Learn how to structure your business expenses and documentation to maximize tax benefits legally.
Presenter Information
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.
Jason always had a knack for speaking and news reporting. He is regularly featured as an anchor for Radio Iowa and Radio Minnesota, is a frequent Podcast Guest, and hosts his own Podcast.
This course counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
