check_circleUnderstand when to use an employer identification number versus a Social Security number.
check_circleUnderstand cash versus accrual accounting.
check_circleIdentify when a proprietor needs to issue 1099s.
check_circleUnderstand what a Form 1099-K is, and the changes to the form for 2022.
check_circleUnderstand how payments made through Venmo and other such apps work.
check_circleUnderstand changes to meal expenses in general, and specific to 2022.
check_circleUnderstand vehicle expenses.
check_circleIdentify the differences between Section 179 expensing and bonus depreciation.
check_circleUnderstand home office expenses, including the simplified option.
check_circleIdentify other proprietor deductions, including health insurance and retirement contributions.
check_circleUnderstand the basics of the qualified business income deduction.
check_circleUnderstand the basics of net operating losses, excess business losses, and the Families First Coronavirus Response Act credit.
check_circleIdentify when an activity is a hobby versus when it is a business.
check_circleUnderstand the IRS’s 9-factor test for determining if an activity is a hobby or a business.
