Tax Workshop Bundle (1.1 GS CEUs)

Presenter Bio:
Rosemary Bocian, MA, EA, NIC, has been an ASL freelance interpreter for 9 years. In 2017 she co-authored the book "The Interpreter's Quick Guide to Self-Employment" which is currently being used by Interpreter Training Programs nationwide and sold on Amazon as well as at select Barnes & Nobles locations. Following publication, she began teaching workshops across the nation including the 2019 RID National Conference. This inspired her to become an Enrolled Agent and support interpreters directly by providing tax preparation services through her business Quick Guide Tax. Rosemary received both her Bachelor’s in ASL Interpretation and Master’s in Deaf Studies: Culture from Gallaudet University. As a professional tax preparer (EA), author and seasoned speaker, Rosemary presents the complex world of taxes in plain language so that interpreters can thrive in the profession.

• 3 Easy Ways to Take Charge of your Taxes as a Freelance Interpreter

Workshop Description:
Do you ever feel unprepared for tax season? Are you confused about deductions, quarterlies and handling multiple income sources? You are not alone! With interpreting being such a unique field, it can be difficult to find accurate tax guidance. In this workshop, participants will learn 3 practical strategies interpreters can use to get organized for this year’s taxes and make future tax seasons smoother. With an efficient process in place, interpreters can breathe easier knowing they are ready for tax season every year.

Educational Objectives:

• Participants will be able to indicate at least 2 differences between 1099 and W2 income

• Participants will be able to identify at least 8 business deductions

• Participants will learn how to save for and pay quarterly estimated taxes

• How to Maximize Business and Personal Deductions for Anyone Filing their own Taxes

About this webinar:
From TurboTax.com to FreeTaxUSA.com, there are a lot of options available to interpreters who want to file their own taxes. However, if you don’t have an understanding of business and personal deductions, many tax saving opportunities can easily fall through the cracks while self-filing. During this workshop participants will learn how to reduce their taxable income through maximizing both business and personal deductions when they file their own taxes. I will also show you where these deductions are reported on your tax return so you can double check it for accuracy before filing. And for those who are concerned about how much you might owe this year, I’ll explain how to easily calculate an estimate of your taxes to help you feel more prepared before you begin working on your taxes. 

1. Participants will be able to list 8 business deductions and understand how to maximize their business phone, home office and auto expenses.

2. Participants will be able to easily calculate an estimate of their tax liability

3. Participants will be able to list 3 personal tax deductions that can reduce their taxable income 

4. Participants will be able to locate their business and personal deductions on their tax return to check for accuracy.

• Unpacking the Decision to Become an LLC as a Freelance Interpreter

Workshop Description:
This workshop will reveal the answers to the most common questions interpreters ask about LLCs, including: Do I need an LLC? How do I form an LLC? What is liability insurance? Does an LLC provide tax savings? What is an EIN? How are sole proprietorships and S Corps different? In addition, we will examine several real-life scenarios to help interpreters evaluate whether an LLC is right for them.

Educational Objectives:

• Participants will understand what an LLC is

• Participants will be able to indicate the difference between liability insurance and LLCs

• Participants will be able to describe the purpose of an EIN and a tradename (DBA)

• Participants will be able to identify the tax implications of sole proprietorships and S Corps

• Tax Mistakes All Interpreters Need to Avoid

Workshop Description:
Being a freelance interpreter requires more than just interpreting. Focus is so heavily placed on language and skill that the business side of the profession often falls through the cracks. Through engaging content and hands-on activities, participants will learn how to avoid the most common tax mistakes that interpreters make. By becoming tax savvy freelancers, interpreters can transform their business practices and improve their current and future careers.

• Participants will be able to calculate taxable income

• Participants will be able to indicate at least 3 differences between 1099 and W2 income

• Participants will be able to identify the difference between an LLC and Liability Insurance

• Participants will be able to state at least 15 business tax deductions

• Participants will learn how to implement tax planning throughout the year by using a budget-based scheduling approach

• I Owe A lot of Taxes… Why Does This Happen and What Can I Do About it?

Workshop Description:
Are you confused about why you owe a lot of taxes when you file? Are you currently sitting on a huge tax bill that you don’t know how to handle? Taxes can be an extremely stressful experience for freelance interpreters, especially if you are blindsided year after year with a large tax bill that you’re unprepared for. This webinar will explain various payment options that are available if you find yourself with a large tax bill that you can’t afford. It will also teach you how to avoid owing large balances in the future by ensuring correct estimated taxes and withholdings are paid throughout the year. In addition, we will examine several real-life scenarios to help interpreters apply the concepts taught and gain an idea of how they can apply them to their own unique situations.

Educational Objectives:

• Participants will understand what quarterly estimated taxes are and how they impact the amount of taxes owed when filing in the spring.

• Participants will be able to complete form W4 to ensure correct tax withholding from multiple employers.

• Participants will be able to describe the difference between short term and long term federal tax payment plans.