So You Want to Start a Business - Introduction
This session explains the concept of flow-through (or pass-through) taxation and why businesses like sole proprietorships, partnerships, and S-Corporations generally do not pay income tax at the entity level. Instead, profits and losses “flow through” to the owners’ personal tax returns. The overview highlights the benefits of this structure, common misconceptions, and the compliance responsibilities that still apply even when the entity itself isn’t taxed.
• Understand what a flow-through entity is and how it differs from a C-Corporation.
• Learn how income and losses are reported for flow-through entities.
• Recognize the tax implications for owners of S-Corps, partnerships, and LLCs.
• Identify compliance obligations despite no entity-level income tax.
• Appreciate the impact of flow-through taxation on planning and estimated payments.
My Business is Booming, My Books Are a Mess
This session addresses the common challenge of rapid business growth outpacing financial organization. Participants will learn why messy books can jeopardize success, how to regain control, and practical strategies for implementing systems that support scalability and compliance.
• Understand the risks of poor bookkeeping during business growth.
• Identify key financial processes that need attention in a growing business.
• Recognize the importance of timely and accurate financial data for decision-making.
• Learn strategies for organizing and cleaning up financial records.
• Explore tools and resources to maintain strong financial systems moving forward.
How Do I Get Paid from My Business?
This course explains the different ways business owners can legally and strategically pay themselves, the tax implications of each method, and how to choose the right approach based on business structure and financial goals. Participants will learn practical steps to ensure compliance while optimizing personal income.
• Understand the common methods of paying yourself from a business.
• Identify how business structure (LLC, S-Corp, C-Corp, sole proprietorship) impacts payment options.
• Recognize the tax implications of salary, draws, and distributions.
• Evaluate the pros and cons of each payment method for cash flow and compliance.
• Apply best practices for documentation and IRS requirements.
Wait - What Do You Mean My Business Doesn't Pay Taxes, It's a Flow-Thru Entity?
This session explains what a flow-through (or pass-through) entity is, why the business itself doesn’t pay income tax, and how profits and losses are reported on the owner’s personal tax return. Participants will learn the implications for tax planning, compliance, and cash flow management.
• Define what a flow-through entity is and identify common types.
• Understand how income and losses pass through to owners for tax purposes.
• Recognize the differences between entity-level taxation and pass-through taxation.
• Evaluate the impact of flow-through taxation on personal tax liability and estimated payments.
• Apply best practices for planning and record-keeping in a pass-through structure.
S-Corp - That's the Best Entity Type, Right? It Depends!
This session introduces the concept of an S-Corporation and addresses the common misconception that it is always the best entity choice for small businesses. It explains what an S-Corp is, why it can be advantageous, and the circumstances where it may not be the ideal option. The overview emphasizes that entity selection should be based on a business’s unique financial facts, goals, and compliance capacity—not on one-size-fits-all advice.
• Understand what an S-Corporation is and how it differs from other entity types.
• Learn the key benefits and limitations of electing S-Corp status.
• Recognize compliance requirements, including payroll and reasonable compensation rules.
• Identify scenarios where an S-Corp election makes sense—and where it doesn’t.
• Appreciate the impact of entity choice on taxes, liability, and administrative obligations.
Hire an Employee or Contractor - A Rose by Any Other Name
This session examines the critical differences between hiring an employee versus an independent contractor, why the classification matters legally and financially, and how misclassification can lead to compliance issues and penalties. Participants will learn how to make informed decisions that align with business needs and regulatory requirements.
• Understand the legal definitions and distinctions between employees and contractors.
• Identify key factors used to determine worker classification.
• Recognize the risks and consequences of misclassification.
• Evaluate the financial and operational implications of each hiring option.
• Apply best practices for compliance and documentation when engaging workers.
