Cash flow planning is critical when making business decisions. This planning can also serve as a model for students' personal financial planning. Operations planning allows the entrepreneur to turn problems into opportunities.
Taxes
- The Artist and The Entrepreneur: Income and Taxes
www.umsl.edu/continuinged/artist/artist-lesson-incometax.htm
In this lesson, students will examine Internal Revenue Service (IRS) Form 1040, citing particular line items that are pertinent to an artist acting as an entrepreneur. They will also learn about various sources of income and the importance of keeping accurate income records. - IRS Tax Information for Small Businesses
www.irs.ustreas.gov/businesses/index.html
- Nolo Taxes and Audits
www.nolo.com/resource.cfm/catID/E60B9A45-4B75-424C-91CDDAC9F6AB3A18/213/287
- Business.gov Tax Information
www.business.gov/topics/taxes
Cash Flow Planning Websites
- SME Toolkit Cash Flow Worksheet
www.smetoolkit.org/smetoolkit/en - SBA Cash Flow Worksheet
www.sba.gov/blogs/projecting-your-business-cash-flow-made-simple
Operations Planning Lessons
- Business Ownership: How Sweet It Can Be!
www.econedlink.org/lessons/index.cfm?lesson=EM533&page=teacher
In this lesson, students research the three basic types of business organization: sole proprietorships, partnerships, and corporations. Considering the advantages and disadvantages of each, they function as consultants offering advice on which form of business is best suited for different business scenarios. The case studies all feature real-life entrepreneurs who started businesses producing chocolate candy and cookies-they all result ultimately in "sweet" success stories. Once students have made their recommendations, they are provided the identities of their clients and asked to prepare reports that tell the rest of the clients' stories-what happened to each founder and business. Almost every student will recognize the products featured in this lesson.
Operations Planning Websites
- Entrepreneur Career Guide
www.khake.com/page31.html
Want to be your own boss? Learn about starting your own business with the following Web resources. Lesson plans for business, economics, finance and law are also included.
