Many self-employed or sole proprietors find themselves having to navigate Schedule C in reporting business income. While this attachment to Form 1040 seems straightforward on the surface, there are many traps for the unwary.

Join us to learn various aspects of Schedule C, filed by sole proprietors. The topics range from basic “what’s new” to a discussion of accounting methods and issuing 1099s. We spend a great deal of time on Form 1099-K, which is a form sole proprietors can expect to receive, and which has had proposed changes in recent years. We then move into more-advanced topics such as hiring family members and choosing a retirement plan for a sole proprietor.

Learning Objectives:

  • Identify the appropriate taxpayers who should be filing Schedule C
  • Identify QBI thresholds and their application for different filing statuses
  • Discuss compliance requirements for issuing 1099s to contractors
  • Recognize how to differentiate between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions
  • Identify a working knowledge of related issues, such as reporting the deduction of self-employed health insurance, employment taxes, home office deductions, and proper reporting of employee/independent contractor salaries and retirement contributions
  • Describe types of typical deductions, such as advertising, utilities, supplies, etc.
  • Recognize how to determine the methods of deducting the cost of a company car
  • Identify how to apply the rules, such as Section 179 or bonus depreciation, which permit the immediate expensing of some or all of the cost of certain assets

Area Covered in this session:

  • Form 1040
  • Who Files Schedule C?
  • Cash vs. Accrual Methods
  • Business vehicle expenses
  • When Schedule C applies
  • Depreciation & Sec. 179 Deduction

Live Q&A session will be held after the event.

PowerPoint presentation for reference

Who Should Attend?

  • This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses and individuals that have these tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.

Credits and Other information :

  • IRS CPE Credits: 2.0 TAX
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: DFFSC
  • Attendance Requirement: Yes
  • Session Duration: 120 Min
  • Case Studies and Live Q&A session with speaker

1. How can I register for this webinar/course?

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2. Is it possible to register someone else for this course? If so, how can I do that?

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3. What is web download and transcript or On demand session?

 The web download grants access to the webinar recording, enabling you to receive a link to download and save it on your computer for convenient viewing, multiple times.

 The transcript offers comprehensive written material from the webinar, ensuring you have detailed documentation of the content presented.

 On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.

4. Is there an opportunity to ask questions to the speaker during the session?

Each webinar wraps up with a Q&A session, giving you the opportunity to interact with industry experts and receive answers to all your queries.

5. We provide the following CE credits to the professionals on the approved courses.

  • IRS
  • HRCI
  • SHRM

6. When are the continuing education credits reported to the IRS, HRCI, SHRM and other regulatory bodies ?

Your educational credits will be reported to the appropriate licensing and regulatory bodies within 5-7 business days

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  • If you’ve forgotten your password, please go to the login page and click on the ‘Forgot Password.’ Then enter your registered email id to receive the password reset email. Click on the link given in the email to enter your new password.
  • If the face any challenge, please reach out to us via email support@taxmarketwatch.com or contact our support team through live chat support.

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Upon registering for any of our webinars or products, you will receive webinar instructions 24 hours before the conference over the your registered mail id with us also check SPAM/JUNK folder. If you’ve not received the instructions, Please reach us at support@taxmarketwatch.com

9. How can I cancel my registration?

For registration cancellations, please reach out to us via email at support@taxmarketwatch.com. If you cancel your registration for a paid webinar, expect the refunded amount to be credited back to your payment method within 7 business days.

10. How can I download the learning materials/Handouts available for the webinars/Seminar?

Conference materials will be accessible 4 hours before the webinar begins. You can download them directly from the webinar page or by logging into your account

11. What are the system requirements to attend a live webinar?

Our seamlessly integrated with ZOOM and Gotowebinar for delivering continuing education webinars. The system requirements are :

  • An internet connection – broadband wired or wireless
  • Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth

12. I took a webinar, where is my certificate?

Your certificate will be sent to you via email within 3 working days after the webinar ends. Alternatively, you can log in to your account at www.taxmarketwatch.com to retrieve it. If you haven't received the email within this timeframe, please check your spam/junk folder. If you still can't find it, don't hesitate to contact us via email at support@taxmarketwatch.com or connect with us through the online chatroom.



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