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Income Tax – Schedule C Small Business Sole Proprietor (Udemy.com)

Small business, schedule C income tax preparation using actual tax forms for examples including form 1040, Schedule SE

Created by: Robert (Bob) Steele

Last updated July 2024

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What you will learn

  • What It Means to Be Self-Employed
  • How to Report Self Employment Income
  • Filing and Paying Business Taxes
  • Identification Numbers Including EIN Number
  • Self-Employment (SE) Tax
  • Employment Taxes
  • Accounting Periods and Methods
  • Business Income & Expenses
  • How To Figure Cost of Goods Sold
  • Car and Truck Expenses
  • Depreciation Expense
  • Employees' Pay Expense
  • Insurance Expense
  • Interest Expense
  • Legal and Professional Fees Expense
  • Rent Expense
  • Pension Plans Expense
  • Taxes Expense
  • Travel and Meals Expense
  • Business Use of Your Home
  • Other Expenses You Can Deduct

How it compares

Against the other 200 rated Udemy courses in Accounting on CourseDuck:

  • Rating4.5 out of 5higher than 49% of them
  • Reviews454#100 of 201 by number of reviews
  • Length96.7 hourslonger than 95% of them
  • Last updatedJuly 2024more recently than 61% of them

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Course Description

This course will focus on tax preparation for taxpayers who have self-employment incomed generally reported on a Schedule C.

We will look at each new concept from multiple angles, starting with a presentation discussing the topic and then looking at examples to better understand the concepts in action.

The example section will use tax forms to work problems and an accounting equation method using Excel so learners will understand the impact on the actual tax return and visualize the concepts using a tax formula.

Sole proprietorship income reported on Schedule C adds significant complexity to income tax preparation. This course will start by introducing the complexity of Schedule C to the tax return, identifying the primary areas that will change using practical examples.

Learners will understand how self-employment tax is calculated when there is schedule C income and how part of the self-employment tax may be included as an adjustment to income.

The course will cover the accounting periods and methods that may be appropriate depending on the business needs.

We will discuss how to report business income and calculate the cost of goods sold and gross profit if applicable.

Learners will understand what a business expense is, how to report business expenses, and the most common categories of business expenses. We will show many examples to solidify the concepts.

We will learn how to report expenses related to the business use of your home, which can be a significant deduction for many businesses.


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Instructor Details

Robert (Bob) Steele

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.    

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).    

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.    

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Reviews

4.5

454 ratings on Udemy

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By Rhuena Moll on 2/17/2026

I am grateful that I finally get to understand what are the type of taxes that are needed to be paid out. This makes me more curious to learn more. Thank you!

By Jose Correia on 1/3/2026

Well through this course, I am gaining knowledge and learning more about schedule C and how things are calculated. Another thing I have noticed is that the Facilitador uses spreadsheets to help us understand tax concepts better.

By Terry Hardin on 3/15/2025

Yes, the information is easy to understand and follow along with, for me. I do have background and experience in taxes and tax preparation. I'm here for a refresher and updates in tax law. But overall, the information provided has been helpful.

By Karen Wilson on 1/22/2022

Using this course to gauge how I wanted to address filing taxes for my small business. Course has lived up to my expectations. Some minor things that have not been updated for 2020/2021 (would recommend a quick double check with the IRS website), but overall great value.

By Saad Fahim on 12/24/2021

Detailed course. Very helpful for those who are planning to start their business and registering the single member LLC.

By Victor Lake on 6/6/2021

Good course for taxation if you are a self-employed or a single-member LLC. Concepts with real demonstration are explained well. The course is not updated, and calculations are based on 2018; you may need to figure out the current figures for to make your returns. I found the course useful and will improve my tax return skills. It would be appreciated if course contents keep updated every 4-5 years as I know it is difficult to update contents every year. I highly recommend this course and instructor has good professional knowledge about the topic.

By Mark Cahill on 1/30/2021

Great match. I like his " Three Perspective Approach" to teaching taxes, "Formula, Forms(Pubs) and Tax Software" and how they all relate to each other. Very well done.

By Todd Gaines on 8/12/2020

This course is reinforcing my existing knowledge and teaching me some additional information relating to Sole Proprietorship taxes. This course is benefiting me greatly thus far.

By Ashley Holder on 7/29/2020

For a beginner it was jammed pack with information that I really have no foundation on. I didn't know what notes to take or if I should take any at all. Basically I got that one form flows through other forms. Form 1040 is the front of the form and breaks down all the other forms such as Sch. C and SE. Also, Sch C is calculating your SS and Medicare which. That cost helps to calculate your SE tax on the SE Form. If that is what you wanted me to learn then awesome! It just felt scrambled.

By James on 1/26/2020

Excellent course. Excellent knowledgeable teacher(understatement). Engaging delivery. Does not read off slides. This Instructor is very thorough and explains all the tax concepts really well. Very few instructors do that. Just take all his courses you will be glad you did.

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Overall Score : 90 / 100