Understanding Small Business Taxes Part 2

This is part 2 of the 4-part series about Small Business Taxes. 

You can register for Parts 2-4 using the following links.

Part 3 https://calendar.libraryweb.org/event/12731556 

Part 4 https://calendar.libraryweb.org/event/12731558 

Lesson 3: Filing and paying taxes electronically

• Describe IRS e-File for Individual and Business Returns
• Describe electronic payment options for your business
• Describe the benefits of filing and paying your taxes electronically

Lesson 4: Business use of your home

• Employee expenses for business use of the home no longer allowed
• Cannot deduct more than $10,000 ($5,000 if married filing separate) of total real estate taxes paid (including state and local) to be reported on combined Form 8829 and Schedule A (Form 1040)
• Calculating and claiming the deduction for business activities in the home
• Business Use of the Home
• Requirements to qualify for a deduction
• Determine the business percentage
• Types of expenses
• Determine deduction limits
• Where to deduct expenses on your return

If you have any questions or require registration assistance, call 428-8194 or email business.insight@libraryweb.org.

PLEASE NOTE: Once registered, the Zoom link will be emailed to you from Business.Insight the day before the event. This series is in an online only format.