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