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Small Business Development Center Sponsors Business Tax Seminars

In October, the University of Iowa Small Business Development Center (SBDC) will present four seminars covering tax issues for new and small businesses.

Don Burr from the Iowa Department of Revenue will present the seminars in the John Pappajohn Business Building (PBB) on the UI campus.

"Sales, Use, and Local Option Taxes" starts at 6:30 p.m. Monday, Oct. 6, in Room W401 PBB (MidAmerican Energy Colloquium). Participants will learn the difference between sales taxes and use taxes. The discussion will cover the different types of tax permits issued in Iowa, which items are taxable and which are exempt, who pays tax and collects taxes and how to complete tax forms.

"Business Expenses and Deductions" begins at 6 p.m. on Monday, Oct. 13, in Room S401 PBB (Tenneco Colloquium). The discussion will include business use of home and auto, and other deductions as well as depreciation.

" Reporting Sole Proprietor Income" will be at 6 p.m. Monday, Oct. 20, in Room S401 PBB (Tenneco Colloquium). In this session, Burr will describe deductible and non-deductible expenses, and provide guidelines on retaining documentation and records. The session will also cover how to complete the Schedule C tax form and how to figure and pay self-employment and estimated taxes.

"Payroll and Employment Taxes" will be at 6 p.m. Monday, Oct. 27 in Room W401 PBB (MidAmerican Energy Colloquium). Attendees will learn about employee designations, using the correct tax forms, and withholding of both federal and Iowa taxes.

The fee for each seminar is $25 or all four for $75. Class sizes are limited. To register, contact the UI SBDC at 319-335-3742 or email paula-mcmartin@uiowa.edu.


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