Sole Proprietorship

• Discuss self-employment taxes, estimated taxes, recordkeeping, and accounting methods of the sole proprietor.
  
• Examine the advantages and disadvantages of the business use of a home.
  
• Discuss ordinary and necessary business expenses as they relate to travel, meals, and entertainment.
  
• Examine self-employed health insurance and retirement plan deductions.
  
• Determine when to elect the Section 179 deduction.
  
• Discuss tangible property regulations/safe harbor (Repair Regulations).
  
• Introduce Form 3800 and identify the General Business Credits that may be claimed.
  
• Qualified Business Income (QBI) Deduction.