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with Amy Wall

Preparing a Schedule C for Business

Learning Objectives:

  • Describe types of Schedule C income and expenses
  • Determine how to report cost of goods sold
  • Describe the options for vehicle deductions
  • Explain the rules for depreciating small business assets
  • Describe when and how to take a deduction for a home office
  • Summarize Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals


Course Overview

Course Details
  • Level: Beginner
  • Cost: Free
  • Field of Study: Taxes
  • Advanced Prep: None
  • Credit Type: CE & CPE
  • Credit Hours: 2
Course Description
Schedule C, Profit or Loss From Business (Sole Proprietorship) is one of those tax forms that looks simple, but is baited with many traps for the unprepared tax professional. It’s just a two-page form, so Schedule C looks simple enough — but looks are deceiving. Filing the Schedule C requires a wealth of tax knowledge. Just filling out the header requires the tax preparer to deal with accounting methods, material participation tests, and the requirement to file 1099s.
This course walks you through these many tax difficulties using a case study, with special attention paid to vehicle expenses, depreciation for small businesses, and the home office. Join this course, and educate yourself about Schedule C at


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    Course Details