Taxes: What You Need to Know 

00:00 Welcome to the Tory Burch Foundation Webinar on Taxes
03:00 Presentation Overview
06:55 Essential Business Entity Setup: Sole Proprietorships and LLCs Explained
09:37 What is An LLC
12:38 Building Your Financial Team: Attorneys, CPAs, and Bookkeepers
15:09 Why Bookkeeping Matters for Your Business: Tools and Tips
19:10 How to Read and Use Profit and Loss Statements for Business Growth
20:50 Filing Taxes: Navigating Schedule C and Maximizing Deductions
27:00 Home Office Deduction: Simplified Method for Tax Savings
30:35 Inventory Management and Deductions: Key Insights for Business Owners
32:35 Planning for the Future: Retirement Options and Tax Benefits
35:10 Q&A: Should You Hire an Accountant or Use Tax Software?
39:20 Selecting the Right Tax Professional for Your Business Needs
40:41 Understanding the $5 per Square Foot Home Office Deduction
45:30 PPP Loan Forgiveness: What It Means for Your Business Taxes
51:07 Differences between Escort and LLC
55:17 What You Should Be Asking Your Tax Professional