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Course Details

How to Prepare a Business Plan and Secure Small Business Financing (Video) (Course Id 1039)

Updated / QAS / Registry / EA
Author : Stuart Sobel, Enrolled Agent (EA), Author, Radio Host, Indiana University Faculty
Status : Production
CPE Credits : 2.0
IRS Credits : 2
Price : $29.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1039

Description :

A frightening statistic: over 60% of all new businesses and over 90% of all new restaurants do not last five years! Entrepreneurs dream, but unfortunately many of their dreams become nightmares. However, the proper use of a well-documented business plan can create, sustain, and enhance the possibilities for a small business.

Tax planning is fire prevention while tax preparation is arson investigation. While the preparation of a tax return documents a taxpayer’s tax history, a business plan can help turn a client’s dream into reality.

The IRS defines a business as an activity engaged into with the expectation of making a profit, a tax plan makes up the major part of a business plan. In numerous Tax Court cases the court has overruled a “hobby” determination, because the taxpayer had a business plan.

Stu Sobel has substantial experience in taxation and business planning. He taught entrepreneurship classes for 12 years as a member of the adjunct faculty at Indiana University. He also served for more than 20 years as a counselor for SCORE, the volunteer arm of the U.S. Small Business Administration, where he assisted thousands of new businesses.

Major Topics:

    • Understanding your client and the type of business
    • Doing market research and analyzing competition
    • Developing the human resources plan for the business
    • Delineating the product or service line
    • Identifying the proper form of business organization – sole proprietorship, LLC, C corporation, S corporation, or other
    • Financial projections for three to five years
    • Acquisition of small business financing
    • Advertising, promotion, and social media
    • Employees or independent contractors
    • Use of available business plan creation software
    • Translating the dreams to the words of a plan and then
    • Moving the plan to the dollars of a budget

Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 02-Apr-2018
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - IRS Enrolled Agents - 1039

Keywords : Taxes, How, Prepare, Business, Plan, Secure, Small, Business, Financing, Video, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    • Understand your clients and the trades or businesses they are involved with
    • Avoid small business financing mistakes
    • Improve tax planning techniques for future activities
    • Expand knowledge into many of the areas that are essential for a successful business
    • Utilize software that is beneficial for business plan preparation
Course Contents :

Chapter 1 - How to Prepare a Business Plan and Secure Small Business Financing


Chapter 1 Review Questions


Tax Transcript Glossary

CPE Taxes Course: https://www.cpethink.com/irs-ea-cpe-courses
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