In this session, Catherine Wright guides us through tax & accounting basics that are applicable to sole proprietors and single-member LLCs. Catherine will share examples of how small business owners can navigate their money and taxes. Participants will also learn the importance of choosing the right tax professional for their specific business. Catherine will be using a mock business model to help participants understand different tax and accounting concepts. 
 

Learning Objectives:

• Understand the fundamental accounting and tax basics applicable to sole proprietors and single-member LLCs.
• Learn how to identify a tax professional specific to a product, service, or business model.
• Understand the importance of having a separate personal and business banking account to keep business financials organized.
• Gain a basic understanding of business revenue, expenses, and profit. 
• Understand how to identify the costs of goods for products and services.
• Review common tax mistakes that entrepreneurs can avoid.

Bio:

Ciara Ladroma, the facilitator, has served the employment and entrepreneurial industries for the last 12 years with a focus on serving people with disabilities, women, BIPOC, and LGBTQIA+ individuals. She has supported small business owners nationwide to create, launch, and grow their businesses. Ciara began her career in Supported Employment as an Employment Specialist and has since carried these unique skills and traits to all areas of her career. Previously serving as a Career Coach at Des Moines Area Community College and as the Director of the Iowa Women’s Business Center, Ciara has found ways to elevate communities by guiding people’s success through business ownership and career navigation. As an entrepreneur herself, she is able to take her own experiences and challenges to help others navigate their entrepreneurial hurdles. Ciara provides technical assistance and training on best practices regarding employment service delivery with a focus on Customized Employment and Self-Employment.