Tax Information for Small Business Owners: Part 1 | Lamar University SBDC

📚 Part 1 of 4: Federal Taxes and Your New Business

This session will explain the purpose of the Employer Identification Number (EIN), describe basic recordkeeping requirements for tax purposes, define bookkeeping and accounting methods, explain the different forms of business organizations, offer guidance on selecting a paid tax preparer, and close with an overview of Schedule C income, expenses, and calculating net profit/loss.

Highlights:
✅ Purpose and use of the Employer Identification Number (EIN)
✅ Recordkeeping, bookkeeping, and accounting basics
✅ Types of business entities and related tax responsibilities
✅ How to select a qualified paid tax preparer
✅ Overview of Schedule C income and expenses

This session is designed for new and prospective small business owners looking to understand how federal taxes apply to their business structure and operations.

📌 Lunch provided. Registration for all four sessions is highly encouraged but not required.

🎤 Presenter: Sheba D. Gonzalez, Stakeholder Liaison, Internal Revenue Service

🎫 Register Here: https://www.sbdc.uh.edu/assnfe/ev.asp?ID=15606