Overview
Lecture presentation plus accompany power point slides. Line by line, item by item in-depth discussion of sole proprietors including income and deductions, hobby vs. business, home office and depreciation.
Prerequisites
None
Objectives
At the conclusion of this course the student will understand when a Schedule C is required by learning how to differentiate between a business and a hobby. The student will also learn the record-keeping requirements and special reporting of income and expenses for many types of businesses, with in-depth discussion of common and unusual deductions including depreciation.
