This overview course will examine the basics for preparing and completing IRS Form Schedule C. 

Each section of the Schedule C will be presented with the correct information and instructions and procedures for completing the form regardless of the client’s business model.  Examples will be given based on the attendees’ client base and experience.  Citations from IRS sources and the US Tax Court cases will be used to supplement the seminar.

We will also cover those topics that the IRS uses to determine audit potential.  Questions and business scenarios will be encouraged.

Learning Objectives: 

After completing this course, you will be able to:

  1.  Understand the information requirements to complete the Schedule C.

   2.  Work with your clients to provide the required information.

   3.  Evaluate which tax strategies will be best for your clients’ returns

   4.  Present a completed return to your clients with explanations for positions taken.

 Course Instructor:   Leonard Steinberg, EA                               

Leonard Steinberg is the Principal of Steinberg Enterprises, LLC.  He is a federally licensed Enrolled Agent (EA) and a Certified Management Consultant (CMC). Mr. Steinberg specializes in small business nonprofit organizations, as well as individuals. 

The tax practice consists of comprehensive tax services including preparation, planning and problem resolution and representation services.  The organization prepares all types of business and personal tax returns (e.g. Proprietorship, Partnership, S-Corp and C-Corp, Exempt Organizations, Payroll, Sales and Use, Estates, Trusts and Foundations).   Mr. Steinberg handles personal, business, nonprofit, estates, trusts, foundations, divorce issues, bankruptcy filings, and tax court preparation.  His representation services include advocacy for all federal issues before the Internal Revenue Service and state tax issues.  He negotiates Installment Agreements and Offers in Compromise.  He represents his clients with Collection Due Process Hearings, Appeals, and Trust Fund Recovery Penalty issues.    

Mr. Steinberg was involved with tax national issues through his appointment to the Federal Taxpayer Advocacy Panel from 2001 through 2004, representing individuals and small businesses for the State of New Jersey.  He was Chairman of the Small Business/Self-Employed Subcommittee. 

Mr. Steinberg was also a member of the Small Business Advisory Committee (SBAC) of the Financial Accounting Standards Board (FASB) from 2005 through 2015. 

Mr. Steinberg has testified at 3 different invitations before the House of Representatives Committee on Small Business and the Subcommittee on Regulatory Affairs.

Mr. Steinberg has made business and tax presentations at professional seminars sponsored by the Internal Revenue Service (Working Together Seminars – New Jersey), Paychex, and Jewish Vocational Services to companies and practitioners throughout the metropolitan area.  He also lectured nationally for Lorman Education Services in the subject areas of Internal Controls and Fraud Detection and Prevention, Nonprofit Management, and Federal taxation.  He taught Accounting, Bookkeeping, and Internal Controls and Fraud Detection and Prevention at Mercer County Community College.