The following courses are available in Level One:
B101
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Basic Business Concepts
The purpose of this course is not to provide you with some special system that will make you rich. If you believe there is such a thing, you will probably be very disappointed. What we do hope to accomplish is to provide you with the framework of how you can determine your own best path. To help you learn how to access your current skills and use those to create a cash flow large enough to build whatever your dreams may be.
B102
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Choosing a Legal Format
This course is intended to give you the basic knowledge you need to legally run your business in the format that is most advantageous for current and future situations. New entrepreneurs are often so excited to get started with their new business, that they do not research how to best set up their business to control costs.
The biggest cost that can be controlled by the proper legal format is the amount of money that becomes taxable income under federal, state, province, local and – in some cases – foreign laws. Therefore, it is essential that the businessperson understand tax treatment before deciding on you legal form.
B103
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Basic Single Entry Accounting
Accounting is a broad subject which is covered by several courses here at the Institute. The aim in this basic course is different than what you will see in most accounting or bookkeeping manuals. We are going to look at accounting from the tax man’s point of view. A lot of people lose money the first few years because they do not have a good understanding of the Internal Revenue Tax Code. This causes them to not keep the proper records that can be used to mitigate their tax liability. While you may bring someone onto your team like a tax advisor or payroll company to handle that part of the bookkeeping, but remember that it is still the business owner’s fault if a mistake is made and you need to know the law to tell if they are doing it right.
