Schedule C and other small business taxes 

Qualified Business Income (Section 199A) Deduction 

Completing Schedule C Part 1 

Gross Receipts and Returns & Allowances 

Cost of goods sold 

Gross Profit and Gross Income 

Bartering 

Completing Schedule C Part II, Expenses 

Car and Truck Expense 

Depreciation 

Tax Cut and Jobs Act of 2017 - Changes to Expensing and Depreciation 

Legal and Professional Services and Office Expenses 

Supplies 

Travel, Meals, and Entertainment 

Net Profit or Loss 

Possible Deductions on Form 1040 

Deducting Start-up Costs 

Self-Employment and Estimated

Filing and paying taxes electronically 

Introduction and Benefits of E-Filing 

Customize this Lesson for your Business 

Do you pay your taxes electronically? 

Sole Proprietor 

Partnership 

Corporation 

Charity or Non-profit 

Benefits of Paying Electronically 

Electronic Funds Withdrawal 

Electronic Filing Tax Payment System (EFTPS) 

EFTPS Payment Methods

Business use of your home 

Simplified Home Office Deduction 

Qualifying for business use of the home deduction – Exclusive Use Test 

Regular Use Test 

Principal place of business test 

Activities that don’t disqualify your home office 

Meeting place for customers test 

Separate structure test 

Deduction limits 

Types of expenses 

Expenses related to the business activity in the home

Business Use of the Home Expenses 

Deductible expenses 

Deduction limits – Gross Income 

Example – Determining the home office deduction 

What you can't do 

Selling your home when you used it for business 

Illegal Tax Avoidance