Introduction to Schedule C and Business Recordkeeping
Good recordkeeping plays a pivotal part in the success of your business, and it also plays a huge role in the preparation of your income tax return. During this presentation we will do a brief overview of Schedule C, Profit or Loss from Business, and discuss recordkeeping for your Schedule C.
During the presentation we will address:
- the uses of recordkeeping
- how to calculate gross profit and gross income
- how to calculate net profit or loss
- how to identify and deduct expenses
- how to document income and expenses
- recordkeeping timeframes
A confirmation email with the Zoom login information will be sent after registration, please be on the lookout for it.
Presenter: Anika Pompey, Senior Stakeholder Liaison with the Internal Revenue Service (IRS)