Lesson 1

1. What is an EIN?
2. What are the basic record keeping obligations of a small business?
3. How long should records be kept?
4. What IRS Publication is helpful for information about record keeping?

Lesson 2

1. How is bartering taxed? Or is it?
2. What are some possible common allowable business deductions?
3. Why are self-employed individuals charged the self-employment tax?

Lesson 4

1. How do you qualify to deduct expenses related to the business use of your home?
2. What is the exclusive use test? How does it work?
3. What is the regular use test? How does it work?
4. What is the principal place of business test? How does it work?

Lesson 5

1. What is the difference between an employee and an independent contractor?
2. What is form I-9?

Lesson 7

1. What constitutes wages for tax purposes?
2. What type of taxes have to be withheld?
3. What is FUTA?
4. Whose responsibility is FUTA? Employer or employee?