As a small business owner, you are busy with day-to-day management of your business, leveraging opportunities and managing challenges. You want to focus as much time as you can on your customers as that is the path to future growth. Unfortunately, taxes are a cost of doing business. It is important to understand the basics as there may be special tax deductions and credits which may benefit you as a small business owner.

This workshop will share some important insights about what you as a business owner should understand about small business taxes, including appropriate forms required by the IRS. In this workshop, we will review:

• Introduce Form 1040, Schedule C and C-EZ
• Define important terms for you to understand
• Demonstrate how to calculate Gross Profit and Gross Income
• Identify and review deductible expenses
• Calculate Net Profit or Loss
• Discuss the Self-employment Tax
• Review how to quantify an estimated tax