Tax Considerations for Starting a Business
Date: 10/17/2024
Time: 12:00 PM - 4:00 PM EST
CPE Credit: 4 hours
This 4-hour webcast will provide CPAs and other tax practitioners with guidance for starting a new business including entity considerations, employment tax issues and potential pitfalls, and critical record keeping including IT considerations.
Topics Covered
- Considerations in choice of entity including obtaining EIN
- Designating a tax year
- Choosing an accounting method
- Business start-up costs
- Tax recordkeeping and documentation
- Outsourcing payroll duties
- Income tax issues
- Self-employment tax issues
- Employment tax issues
- Excise tax issues
- Tax depositing requirements
- Information returns
- Selecting professional assistance in addition to tax professionals
- Tips on tips
- Business expense deductions including home office
Learning Objectives:
- Provide a strong overview of significant tax elements of starting a business and keeping records
- Suggest major considerations in determining business types
- Provide related tax information affecting embarking on a new business
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