Description

Navi Maraj CPA – Learn How To Save Thousands In Taxes

Navi Maraj CPA – Learn How To Save Thousands In Taxes

Navi Maraj CPA – Learn How To Save Thousands In Taxes

About Course:

Small Business Taxes From Knowing Nothing to Saving Thousands – Navi Maraj CPA

Course Curriculum:

Welcome and Orientation!

  • What Will You Learn?
  • How to Use this Course?
  • About Me
  • Two Disclaimers Before Proceeding

Building the Foundation: Part 1 – Taxes

  • Intro to Building the Foundation Part 1
  • What Taxes is a Business Subject To?
  • Tax Comparison: Employee vs. Sole Proprietor vs. S Corporation
  • Marginal & Effective Tax Rate Calculator and Tax Brackets
  • What is a Progressive Tax System?
  • What is a Marginal Tax Rate?
  • What is an Effective Tax Rate?
  • The Value of a Tax Deduction
  • When To Pay Your Taxes as A Business Owner
  • Income Tax Returns for Sole Proprietors & S Corporations
  • Please Read: Section Check In

Tax Strategies

  • Three Phases of Tax Strategies
  • Intro to The Tax Savings Estimator Tool
  • Download the Tax Savings Estimator Tool
  • Administrative Home Office
  • Automobile
  • Cell Phone & Internet
  • Meals
  • Travel
  • Hiring Minor Children
  • Health Insurance Premiums
  • Often Missed Deductions
  • Phase 2: Intro to Tax Classification Optimization
  • The Difference between Legal Entities & Tax Classifications
  • Sidebar: When Does an S Corp Make Financial Sense?
  • Salary Optimization and Payroll Matrix
  • Access the Payroll Matrix
  • Integrating Tax Classification & Salary Optimization into the Tax Savings Tool
  • Sidebar: Multi Member LLC (MMLLC)
  • Phase 3: Retirement
  • How Much Will You Save? (Let me and other students know in the comments.)
  • Section Check In

Navi Maraj CPA – Learn How To Save Thousands In Taxes

Building the Foundation: Part 2 – Financial Accounting

  • Intro to Building the Foundation Part 2
  • Overview of the Financial Statements: P&L and Balance Sheet
  • The Accounting Equation
  • The Chart of Accounts
  • Journal Entries, T Accounts and the Accounting Equation
  • Putting It All Together
  • Section Summary
  • Section Check In

Implementation: Getting Started

  • Intro to Implementation
  • Forming Your Business Entity
  • Where to Form Your LLC
  • 4 Reasons NOT to be taxed as an S Corp (Give this a read before making the S Corp election for your LLC)
  • How and When to Complete a W-9
  • QuickBooks Online Discount
  • Creating a QuickBooks Online Account
  • Overview of QuickBooks Online Menus and Settings
  • Customizing the Chart of Accounts in QuickBooks Online
  • Linking Your Bank Account to QBO & Capital Accounts Bookkeeping
  • Transferring Money to and From Business Accounts
  • Section Check In

Implementation of Tax Strategies

  • Disclaimer: Tax is Law
  • Introduction to The Accountable Plan
  • Home Office, Auto, Cell Phone & Internet via the Accountable Plan
  • Sidebar: S Corp Home Office
  • Sidebar: Auto
  • Meals
  • Travel
  • Hiring Children
  • Healthcare Premiums
  • Contract Labour
  • Business Gifts
  • Whoops! I used the wrong account.
  • Financial Statements After Recording Expenses
  • Bookkeeping for Revenue
  • Financial Statements After Recording Revenue
  • What is a Reconciliation and How to Reconcile an Account in QuickBooks?
  • Section Check In

Other QuickBooks Bookkeeping Tips

  • Splitting a Transaction between Business and Personal
  • How to Recategorize an Expense?
  • Adding an Account or Subaccount to the Chart of Accounts

Implementation of Tax Strategies: Payroll

  • Introduction to Payroll Section
  • Paying Yourself as a Sole Proprietor
  • Paying Yourself as an S Corporation
  • Pay stub Walkthrough
  • Setting Up Payroll in QBO
  • Accounting for Officer Compensation and Non-Officer Wages
  • S Corp Owner Health Insurance Tax Savings & Implementation
  • Bookkeeping for Payroll in QBO
  • Section Check In

Implementation of Tax Strategies: Retirement

  • Introduction to Retirement Section
  • Questions to Answer Related to Retirement
  • Your Retirement Vehicle Options
  • The IRA
  • The SEP IRA
  • The Solo 401(k)
  • Where Deductions Will Appear on Your Tax Returns
  • Adding Employee Deferral in QuickBooks Payroll
  • Bookkeeping for Employee Deferral & Associated Liability
  • Section Check In

Paying Taxes

  • Intro to Paying Taxes
  • Paying Taxes as a Sole Proprietor
  • Paying Taxes as an S Corporation
  • Paying Taxes as an S Corporation – Bookkeeping & Associated Liabilities
  • Section Check In