Synopses & Reviews
Save tons of money with the secrets to avoiding income taxes
Could it be possible to run your business without paying federal and state income tax for at least 36 months? What if youre not in businesshow about reducing or completely wiping out your income tax? It may sound too good to be true, but the answer is YES. In this easy-to-use, plain-English book, Robert A. Cooke shows how you can legally use the tax rules to your advantage. Doing Business Tax-Free, Second Edition is packed with tax-saving concepts and ideas and clear explanations on how to apply them to your own situation.
Numerous examples help you understand crucial tax-planning maneuvers and form a game plan, which, with a little professional fine-tuning, will alleviate your income tax burden. Plus, youll save even more money by learning how to keep professional fees to a minimum and shorten your time in the tax preparers office.
New to the Second Edition:
- Recomputes examples involving computation of individual income taxes with year 2000 tax rates
- Features updated sections on S corporations, limited liability companies, and loss carryovers
- Covers the new, simpler "check-the-box" rules for satisfying IRS requirements for taxation of a limited liability company
- Guarantees postings of future significant changes to the tax rules regarding S corporations on the authors Web site, www.robertcooke.comwhich you can check for updates as you read the book
- Includes revised rules for home offices
The expert advice contained in this book could help you to avoid paying income taxes for three full years or more!
This amazing book offers you dozens of proven techniques for taking advantage of IRS and state tax regulations to minimize, or totally eliminate, your tax bill. Not a laundry list of technical terms and concepts you'd need a tax lawyer to decipher, this idea-filled guide is written in plain, everyday English and packed with dozens of helpful real-life examples. And its unique quick-reference format routes you directly to the tax strategies that are right for you and your business. So, read this book and find out how to:
- Organize your business for the smallest tax bite
- Employ a wide range of tax-saving techniques, including amortizing, capitalizing, depreciation of assets, and more
- Use smart bookkeeping techniques that can save you a bundle
- Turn personal expenses into tax deductions
- Take money out of your business without incurring more taxes
- Use tax credits to get the government to pay your tax bill
- Find good professional help
- Plan your own tax strategies and keep professional fees to a bare minimum
If you're self-employed and tired of watching your hard-earned money being thrown away on free congressional haircuts, read this book and find out how to keep it where it belongs.
About the Author
ROBERT A. COOKE, CPA, has had twenty years of experience in public accounting. He has taught numerous seminars on finance and accounting for Prior Resources, Inc., and is the author of several successful books, including How to Start Your Own Subchapter 'S' Corporation and the first edition of Doing Business Tax-Free, both from Wiley.
Table of Contents
Pay No Income Taxes.
Organize Your Business for the Smallest Tax Bite.
Jump into Business and Keep the IRS from Becoming a Greedy Partner.
Keep Two or More Sets of Books (Legally) and Other Accounting Tricks.
Change Personal Expenses into Business Tax Deductions.
Taking Money Out of Your Business.
Spread the Tax Burden Around the Family.
Pay Taxes Late, Years Late, Without Penalty or Interest.
Don't Ignore the Alternative Minimum Tax (AMT).
Select and Use Professional Help.