Small Business Taxes Made Easy: Recordkeeping (Completed)

Date: Tuesday, June 2, 2020
Instructor: Eva Rosenberg
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join the class to learn how to set up or improve your business during this COVID19 time in the world. This course is based on the tips and tools discussed in TaxMama’s latest book, Small Business Taxes Made Easy. Too many small businesses totally overlook proper record-keeping requirements. This course will explain why good records are crucial to a business, what cash and accrual accounting systems mean, various types of recordkeeping systems, which records are essential and how long to keep them.

While not required, having a copy of the textbook Small Business Taxes Made Easy, 4th Edition is beneficial.

Who Should Attend
Tax practitioners at all levels regardless of tax practice and Business Owners.

Topics Covered

  • Why records need to be kept —for the IRS
  • Why records need to be kept —for the business profitability
  • Manual accounting systems
  • Software systems and the related benefits
  • Fiscal vs calendar years
  • Cash vs Accrual and other recordkeeping options
  • How long to keep records Delaware, Wyoming, etc.
  • Understanding tax and accounting terminology
  • New considerations due to Sec 199 Qualified Business Income Deductions
  • Recordkeeping resources

Learning Objectives

  • Recognize the reason good business and tax records are important, how they can make the business more profitable, and how to make the process the least painful possible


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

 Chat — Books Support