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This workshop will work on defining entity options: Sole-Proprietor, Partnership, S-Corporation, and regular C-Corporation, and show how the LLC world works with each. The class will also dig into the pro and cons of each option – specifically how much tax each option attracts and equally important, the ease or difficulty of pulling money out of the entity and putting it in your pocket.Let’s take an in-depth review of expenses!
Critical topic: realizing that one is taxed on the “NET PROFIT”, not the gross income received. We will be discussing several areas that reduce taxable profit: expensing the vehicle, home office and various depreciation options. Plus, we will cover items like inventory, product costs, cell phone, office furniture/equipment, advertising, meals and travel, and hiring your own children. We will define employee vs contract labor. We will briefly discuss record keeping and retention.
This is a FREE event but please RSVP! Please enter Mother Road Market on the west doors, near the patio.
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Event Venue & Nearby Stays
Mother Road Market, 1124 S. Lewis Ave.,Tulsa, Oklahoma, United States
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