For Small Business Owners

Table of Contents by Track Number

TRACK #

CD #1

1.                    Introduction Of Leann

2.                    Federal  And State Income taxes

3.                    Who Pays Taxes

4.                    Self Employment Or Payroll Taxes On Earned Income

5.                    Estimated Taxes

6.                    Recordkeeping

7.                    Irs And The Inadequate Recordkeeping Penalty

8.                    Capital Expenses   

9.                    Accrual Accounting Vs. Cash Accounting

10.                 Using Personal Credit Cards For Business

11.                 Time Use Of Money And Money Owed You

12.                 Petty Cash And Cash Expenses

13.                 There Is No Such Thing As Miscellaneous Expenses

14.                 Banking And Checkwriting

15.                 Computerized Bookkeeping

16.                 QuickBooks Is Here To Stay

17.                 Common Financial Reports

18.                 Tax Strategies And Maximizing The Use Of Your Assets

19.                 Recordkeeping For Separate Entities

20.                 Document Every Financial Transaction Between You And The Separate Entity

21.                 Document All Payments Paid Out To You By The Business

22.                 Whose Debt Is It Anyway?

23.                 How To Keep Receipts For Future Reference

24.                 Contract Labor

25.                 Keep A Permanent File

26.                 How  Long To Keep Back Up DOCUMENTATION

CD #2

1.                    What Form Of Entity To Choose?

2.                    Flow Thrus

3.                    Sole Proprietorships And Single Member LLC Business

4.                    Advantages To Being A Sole Proprietor

5.                    Disadvantages To Sole Proprietorship

6.                    Transitioning Rules

7.                    Incorporation

8.                    Authorized Vs. Issued Stock

9.                    Getting Money Out Of Your Corporation

10.                 Sub S Corporation Requirements

11.                 Late Application For Sub S

12.                 Advantage Of A Sub S

13.                 Disadvantages Of A Sub S

14.                 C Corporation Requirements

15.                 Advantages Of A C Corporation

16.                 Disadvantages Of A C Corporation

17.                 LLC Requirements

18.                 Advantages Of An LLC

19.                 Disadvantages

20.                 Limited Partnerships

21.                 Requirements

22.                 Advantages Of A Limited Partnership

23.                 Disadvantages

24.                 Requirements And Advantages

CD #2   (cont.)

25.                 Disadvantages

26.                 Year End Tax Planning Is Not Optional

27.                 Tax Strategies

28.                 Hire Your Family Members

29.                 Sole Proprietors Get The Biggest Tax Break For Their Children

30.                 Roth IRAs For Your Employed Children

31.                 What If Your Business Is Incorporated?

32.                 Hire Your Spouse And Receive Great Benefits!!!

33.                 SSI

34.                 Hire Your Parents

35.                 Documentation, Documentation, Documentation

36.                 Self-Rental

37.                 Hobby Loss Rules

CD #3

1.                    Office In Home          

2.                    Office In Home And Business Mileage

3.                    Corporations And Office In Home Deductions

4.                    Telephone Expenses

5.                    Travel

6.                    Vacations

7.                    Meals & Entertainment

8.                    Exceptions To The 50% Meals Limitation

9.                    Gifts

10.                 Biz Equipment And The 179 Election

11.                 Fringe Benefits

12.                 Health Insurance And Medical Reimbursement plans

13.                 Sub Ss Are Lacking In The Area Of Fringe Benefits For Owner

14.                 Listed Property

15.                 Vehicles Are Listed Property

16.                 What Is Business Mileage?

17.                 Vehicles Are Also Subject To Luxury Car Limitations

18.                 Mileage Or Actual Expenses For Your Business Car?

19.                 Vehicle Trade-ins

20.                 Leased Vehicles

21.                 To Lease Or To Buy YOUR BUSINESS VEHICLE?

22.                 Corporations Cannot Use Cents Per Mile

23.                 Tax Free Vehicle Reimbursement To Your Employees

24.                 Electric Or Hybrid Cars

25.                 IRS As A Resource

26.                 Closing By Leann

27.                 Closing Summary