This workshop will work on defining entity options: Sole-Proprietor, Partnership, S-Corporation, and regular C-Corporation, and show how the LLC world works with each. The class will also dig into the pro and cons of each option – specifically how much tax each option attracts and equally important, the ease or difficulty of pulling money out of the entity and putting it in your pocket.

Let’s take an in-depth review of expenses!

Critical topic: realizing that one is taxed on the “NET PROFIT”, not the gross income received. We will be discussing several areas that reduce taxable profit: expensing the vehicle, home office and various depreciation options. Plus, we will cover items like inventory, product costs, cell phone, office furniture/equipment, advertising, meals and travel, and hiring your own children. We will define employee vs contract labor. We will briefly discuss record keeping and retention.

This is a FREE event but please RSVP! Please enter Mother Road Market on the west doors, near the patio.