Tax Basics for Small Business Owners
Let’s face it, taxes can feel like a confusing maze of forms, deadlines, and rules that no one explains in plain English. Here’s the good news: once you understand the basics, taxes can go from being something you dread to something you feel genuinely in control of. Tax Basics for Business Owners is a friendly, encouraging, and non-judgmental class designed to help you make sense of the money stuff that matters most.
This class is for business owners of all kinds! Whether you’re a brand new entrepreneur trying to figure out how taxes work, a side hustler who’s suddenly earning ‘real money’, or a seasoned small business owner who’s tired of guessing and hoping for the best when tax season rolls around. You do not need to know anything before you show up. You don’t need to be “good with numbers” or have perfect books. This class meets you exactly where you are, and our only goal is to help you feel confident and prepared with practical, real-world strategies.
We keep things upbeat, lighthearted, and easy to understand, while still diving into the details that actually matter. No stiff suits. No fear-based warnings. No embarrassment if you’ve been winging it until now. This is a judgment-free space for business owners to get the tax education you should’ve gotten from your accountant when you started, and probably didn’t.
Here’s what we’ll cover in class:
Understanding Business Taxes
We’ll start with the basics. What taxes actually apply to your business? Do you need to pay quarterly taxes? What even is self-employment tax, and how is it different from income tax? We’ll break it down clearly so you finally understand what you’re responsible for, when, and why.
The Truth About Write-Offs
Everyone loves a good write-off joke, but do you know how they work? We’ll explain what a write-off really is, how deductions and credits are different, and what expenses you can actually claim, from your home office to your software subscriptions. You’ll learn how to avoid red flags without leaving valuable deductions on the table.
How to Track Your Income and Expenses
If your current system involves receipts shoved in a glove box or a spreadsheet you stopped updating in March… you’re not alone. We’ll teach you how to set up a simple system to track your business income and expenses in a way that’s easy to maintain. This isn’t about perfection, it’s about consistency, clarity, and keeping your stress lower.
Choosing the Right Business Structure
Sole proprietor, LLC, S Corp… what does it all mean? We’ll go over the most common business structures, how each one affects your taxes, and what you should know before deciding or switching. This section alone can save you thousands of dollars if you’re in the wrong business structure and don’t know it.
Planning Ahead Instead of Playing Catch-Up
Tax time doesn’t have to be a mad dash to find paperwork and guess what you owe. We’ll walk through how to plan for taxes year-round, so nothing catches you off guard. You’ll learn about setting aside tax savings, planning for estimated payments, and building a rhythm that helps your business stay steady.
Avoiding Common Mistakes
This isn’t a scare tactic session, it’s a heads-up from someone who’s seen behind the scenes. We’ll cover simple mistakes that trip up business owners all the time, like mixing personal and business finances, forgetting to file sales tax, or missing deduction opportunities. You’ll also learn what types of things might raise a red flag with the IRS, and how to avoid them so you’re not living in fear of an audit.
Working With a Tax Pro (or Not)
Do you actually need an accountant? When does it make sense to DIY versus hiring help? How can you work with your bookkeeper or tax pro in a way that saves you money and stress? We’ll walk through how to choose a tax professional, what questions to ask, and how to stay involved so you’re never left in the dark.
Building Tax-Smart Habits That Stick
Taxes aren’t just about April, they’re about the way you run your business every day. We’ll finish the class with easy, repeatable habits that help you stay on track year-round. You’ll leave with a checklist, a better understanding of your own numbers, and a system you can actually stick to.
By the end of this class, you’ll not only have a better understanding of your tax responsibilities, but you’ll also feel equipped to handle them with less stress and more clarity. You don’t have to become a tax expert, you just need to understand the parts that may affect you and we’re going to make sure you do.
You’ll walk away saying, “Ohhh… that’s how that works!” more than once. Best of all, you’ll no longer feel like you’re constantly behind or hoping you got it right. Taxes aren’t the enemy, they’re just another part of business. Once you know the basics, they lose their power to overwhelm you.
Let’s take the mystery out of taxes together. You’ve got this!
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