Welcome and Orientation!
Building the Foundation: Part 1 - Taxes
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Intro to Building The Foundation Part 1 (1:10)
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What Taxes is a Business Subject To? (7:21)
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Tax Comparison: Employee vs. Sole Proprietor vs. S Corporation (16:30)
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Marginal & Effective Tax Rate Calculator and Tax Brackets
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What is a Progressive Tax System? (7:52)
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What is a Marginal Tax Rate? (2:41)
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What is an Effective Tax Rate? (2:12)
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The Value of a Tax Deduction (2:42)
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When To Pay Your Taxes As A Business Owner (2:05)
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Income Tax Returns for Sole Proprietors & S Corporations (6:47)
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Please Read: Section Check In
Tax Strategies
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Three Phases of Tax Strategies (1:49)
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Intro to The Tax Savings Estimator Tool (5:38)
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Download the Tax Savings Estimator Tool
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Administrative Home Office (12:30)
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Automobile (13:47)
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Cell Phone & Internet (4:38)
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Meals (3:45)
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Travel (6:35)
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Hiring Minor Children (6:16)
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Health Insurance Premiums (6:56)
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Often Missed Deductions (7:56)
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Phase 2: Intro to Tax Classification Optimization (1:03)
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The Difference between Legal Entities & Tax Classifications (12:18)
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Sidebar: When Does an S Corp Make Financial Sense? (8:16)
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Salary Optimization and Payroll Matrix (4:05)
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Access the Payroll Matrix
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Integrating Tax Classification & Salary Optimization into the Tax Savings Tool (12:38)
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Sidebar: Multi Member LLC (MMLLC) (8:46)
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Phase 3: Retirement (13:06)
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How Much Will You Save? (Let me and other students know in the comments.) (3:49)
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Section Check In
Building the Foundation: Part 2 - Financial Accounting
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Intro to Building the Foundation Part 2 (2:15)
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Overview of the Financial Statements: P&L and Balance Sheet (15:03)
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The Accounting Equation (15:34)
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The Chart of Accounts (6:47)
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Journal Entries, T Accounts and the Accounting Equation (9:06)
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Putting It All Together (13:32)
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Section Summary (2:15)
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Section Check In
Implementation: Getting Started
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Intro to Implementation (1:17)
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Forming Your Business Entity (15:43)
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Where to Form Your LLC
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4 Reasons NOT to be taxed as an S Corp (Give this a read before making the S Corp election for your LLC)
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How and When to Complete a W-9 (5:42)
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QuickBooks Online Discount
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Creating a QuickBooks Online Account (12:34)
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Overview of QuickBooks Online Menus and Settings (12:18)
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Customizing the Chart of Accounts in QuickBooks Online (10:02)
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Linking Your Bank Account to QBO & Capital Accounts Bookkeeping (15:38)
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Transferring Money To and From Business Accounts (6:17)
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Section Check In
Implementation of Tax Strategies
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Disclaimer: Tax is Law (1:30)
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Introduction to The Accountable Plan (5:20)
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Home Office, Auto, Cell Phone & Internet via the Accountable Plan (43:20)
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Sidebar: S Corp Home Office (4:59)
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Sidebar: Autos (7:35)
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Meals (8:31)
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Travel (12:45)
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Hiring Children (31:54)
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Healthcare Premiums (4:48)
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Contract Labor (23:17)
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Business Gifts (6:24)
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Whoops! I used the wrong account... (3:19)
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Financial Statements After Recording Expenses (7:27)
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Bookkeeping for Revenue (2:10)
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Financial Statements After Recording Revenue (5:01)
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What is a Reconciliation and How to Reconcile an Account in QuickBooks (8:27)
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Section Check In
Other QuickBooks Bookkeeping Tips
Implementation of Tax Strategies: Payroll
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Introduction to Payroll Section (0:51)
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Paying Yourself as a Sole Proprietor (4:54)
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Paying Yourself as an S Corporation (10:47)
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Paystub Walkthrough (8:09)
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Setting Up Payroll in QBO (28:50)
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Accounting for Officer Compensation and Non-Officer Wages (6:23)
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S Corp Owner Health Insurance Tax Savings & Implementation (13:50)
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Bookkeeping for Payroll in QBO (6:53)
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Section Check In
Implementation of Tax Strategies: Retirement
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Introduction to Retirement Section (1:08)
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Questions to Answer Related to Retirement (4:08)
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Your Retirement Vehicle Options (4:08)
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The IRA (4:01)
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The SEP IRA (13:02)
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The Solo 401(k) (19:45)
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Where Deductions Will Appear on Your Tax Returns (4:04)
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Adding Employee Deferral in QuickBooks Payroll (4:18)
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Bookkeeping for Employee Deferral & Associated Liability (4:15)
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Section Check In
Paying Taxes
Course Conclusion
