Accounting & Finance
Part 1 of 11
Business Bookkeeping and Accounting for Beginners
Outline:
- Mindset about money and knowing your numbers
- Best practices to record financial transactions
- Top reports and how to use them
- Driving profitability from the start
Resources & Links
View Lis Lee’s presentation | Go to Lis Lee’s website
Part 3 of 11
What are Self-Employment Taxes?
– Two types of business taxes: income tax and self-employment tax
– Self-employment tax is two parts: Social Security tax and medicare tax
– Schedule E shows your self-employment tax
– Deduct half of your schedule E self-employment tax
– Set aside 20-30% for quarterly estimated taxes
Resources & Links
Amy Northard, CPA| Amy’s website: amynorthardcpa.com/ | Schedule E (2022): https://www.irs.gov/pub/irs-pdf/f1040se.pdf
Part 4 of 11
Resources & Links
Part 10 of 11
Resources & Links
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