Synopses & Reviews
Getting your tax matters on track will free up your time to do what really counts: run a profitable business.
Tax Savvy for Small Business can help you create a business tax strategy that can save you time, energy and money.
It shows you how to:
deduct operating expenses
deduct travel, vehicle and entertainment expenses
take advantage of tax credits
write off long-term assets
compare business structures
keep solid business records
handle an IRS audit ThIS completely updated edition of Tax Savvy for Small Business explains the latest tax breaks and IRS rules and forms.
Review
"This plain-English guide will show you how to make the most of your tax-deductions". Business Week "Even if you use an accountant, pick up a copy of this book for further understanding and tax management." Small Business Opportunities "A completely invaluable guide... keep this on your bookshelf for future reference. Five stars (we love it)." Inc. Magazine "The essential small business tax strategy book for the savvy entrepreneur" Named "Best Tax Book" by Entrepreneur magazine
Synopsis
Practical tax information every small business owner needs to know to set up and run a business and avoid problems with the IRS.
Synopsis
This book teaches business owners what they need to know about taxes for their small business, and how to make the best tax-related decisions. It has information on all aspects of taxes for a small business owner, from how to choose the best business entity to tax deductions, record-keeping, business losses, payroll taxes, fringe benefits, retirement plans, and much more. It provides valuable tax-related strategies and information to help small business owners save money and run their businesses without running into trouble with the IRS.
About the Author
Frederick W. Daily is a tax attorney with over 35 years experience helping individuals and small business owners make smart tax decisions and stay out of trouble with the IRS. He has been featured as a tax expert on Good Morning America and NPR, and in publications across the country including Money Magazine, U.S. News and World Report, Newsweek, the New York Times, and the Chicago Tribune. He is the author of Stand Up to the IRS, Tax Savvy for Small Business and Surviving an IRS Tax Audit.Jeffrey Quinn is a Certified Public Accountant in California and Nevada and has a Masters of Science in Taxation from Golden Gate University. He worked at Price Waterhouse and Co. in San Francisco and then relocated to Incline Village, Nevada, where he has practiced ever since. He has authored weekly tax columns in the North Lake Tahoe Bonanza for nearly 35 years.
Table of Contents
Tax Basics
1. Deductible Business Expenses
2. Writing Off Long-Term Business Assets
3. Bookkeeping and Accounting
4. Business Losses and Failures
5. Tax Concerns of Employers
6. Sole Proprietorships--Solos, Freelancers, and Independent Contractors
7. C Corporations
8. S Corporations
9. Partnerships
10. Limited Liability Companies
11. Qualified Personal Service Corporations
12. Family Businesses
13. Home-Based Businesses
14. Fringe Benefits
15. Retirement Plans
16. Buying a Business
17. Selling or Closing a Sole Proprietorship
18. When You Can't Pay Your Taxes
19. Audits
20. Appealing IRS Audits
21. Penalties and Interest
22. Help Beyond the Book
23. Answers to Frequently Asked Tax Questions
Glossary
Appendix
Index