This course is available online.
Topics Include:
- Selecting a form of organization and the required registrations
- Accounting systems and the recording of income and expenses
- Income & Expenses considerations
- Differences between an employee and an independent contractor
- 1099 requirements
- New capitalization regulations
- The effect of the new tax law on horse businesses
- Differences between a business and a hobby
- Passive activities and proving material participation
- Business plans and projections
- IRS audits