For the millions of small business owners, here is an up-to-the-minute tax guide showing them how to keep what they ve earned by taking advantage of every available tax write-off. Deduction-maximizing strategies and recordkeeping requirements for backing up business deductions are explained. Features include: c Separate chapters outlining major business tax deductions c New tax legislation affecting small businesses and small business owners c Checklists of common tax deductions organized by entity type sole proprietor, S corporation and C corporation c Turbo Tax will be quoting this book in its Turbo Tax For Business Software Program Barbara Weltman, an attorney and a nationally recognized expert in taxation for small businesses, is quoted regularly in the New York Times and Boardroom Reports and writes frequently about taxes and financial <p>Comprehensive and totally up to date, this goldmine of information on deductions can save taxpayers hundreds, even thousands of dollars. The guide includes information on home office expenses, computers and other office equipment, car or truck costs, rental expenses, wages paid to family members, travel and entertainment expenses, and more. </p>

xii, 317 pages : 23 cm Includes index Ch. 1. Choose the Right Identity to Do Business -- Ch. 2. To Incorporate or Not to Incorporate: The New Rules of the Game -- Ch. 3. The S Corporation Madness -- Ch. 4. Fringe Benefits: Special Tax Write-offs for the Small Business -- Ch. 5. Other Top Fringe Benefits That Make for a Real Tax Shelter -- Ch. 6. Steps to Make Employee Business Expenses Deductible -- Ch. 7. Beat the Recordkeeping Game -- Ch. 8. Tax Write-Offs for a Special Class of Deductions -- Ch. 9. Take the Smart Route: Options for Automobile and Local Transportation Expenses -- Ch. 10. Home Office Expense and Family Planning Income Tax Strategies -- Ch. 11. Familiarize Yourself with the New Tax Rules -- Ch. 12. Estate Planning Tips for a Secure Future -- Ch. 13. Retirement Planning and Tax Deferrals: The Last Frontier for Real Tax Shelter -- Ch. 14. Current Tax Saving Trends -- Ch. 15. Latest IRS Rulings and Law Updates that Favor Small Business

Table of Contents......Page 10 I. Introduction......Page 18 A. Taxes for Small Businesses and the Self-Employed......Page 19 B. How Tax Law Is Made and Administered: The Short Course......Page 21 C. Sources of Tax Law......Page 22 E. The Alternative Minimum Tax (AMT)......Page 23 1. Deductible Expenses......Page 26 A. What Is a Deductible Business Expense?......Page 28 C. Top 25 Deductions for Businesses......Page 30 D. Vehicle Expenses......Page 40 E. How and Where to Claim Expense Deductions......Page 44 F. What Is—And Isn’t—Income?......Page 45 2. Writing Off Business Assets......Page 48 A. When Various Expenses May Be Deducted......Page 50 B. Section 179: Expensing Business Assets......Page 52 C. Depreciating Business Assets......Page 55 D. Tax Basis of Business Assets......Page 62 E. Leasing Instead of Buying Assets......Page 65 F. When You Dispose of Business Assets: Depreciation Recapture Tax......Page 67 G. Tax Errors in Depreciation......Page 68 3. Bookkeeping and Accounting......Page 70 A. Why You Need a Bookkeeping System......Page 71 C. Manual or Computer System?......Page 72 D. What Kinds of Records to Keep......Page 76 F. Bookkeeping Methods of Tracking Income and Expenses......Page 80 G. Timing Methods of Accounting: Cash and Accrual......Page 81 H. Accounting Periods: Calendar Year or Fiscal Year......Page 83 4. Business Losses and Failures......Page 86 A. Unincorporated Business Losses......Page 87 B. Incorporated Business Losses......Page 89 5. Tax Concerns of Employers......Page 92 A. Taxpayer Identification Numbers......Page 93 B. Payroll Taxes......Page 94 C. Classifying Workers: Employee or Independent Contractor?......Page 101 D. Misclassifying Employees as Independent Contractors......Page 104 E. IRS Filing and Payment Requirements for Employers......Page 107 F. Record Keeping for Service Providers......Page 108 6. Sole Proprietorships......Page 110 B. Profits Left in the Business......Page 111 C. How Sole Proprietors Report Taxes......Page 112 D. Estimated Tax Payments = Pay as You Go......Page 115 E. Employment Tax Rules......Page 116 G. Outgrowing a Sole Proprietorship......Page 117 I. Death and Taxes......Page 118 7. C Corporations......Page 120 A. Types of Corporations......Page 122 B. How C Corporations Are Taxed......Page 124 C. Tax Benefits of C Corporations......Page 129 D. Incorporating Your Business......Page 130 E. The Importance of Issuing Section 1244 Stock......Page 134 F. Taking Money Out of a C Corporation......Page 136 G. Tax Pitfalls of C Corporations......Page 139 H. Dissolving a C Corporation......Page 140 8. S Corporations......Page 142 A. An Overview of S Corporations......Page 143 B. Should You Choose S Corporation Status?......Page 144 C. Tax Reporting for S Corporations......Page 146 D. How S Corporation Shareholders Are Taxed on Income......Page 149 F. Electing S Corporation Status......Page 150 H. Dissolving an S Corporation......Page 152 9. Partnerships......Page 154 B. Tax Reporting by Partnerships......Page 156 C. Tax Obligations of Partners......Page 157 D. Partnership Losses......Page 162 E. Partnership Contributions......Page 163 F. Getting Money Out of a Partnership......Page 165 H. Selling or Transferring a Partnership Interest......Page 166 I. Ending a Partnership......Page 168 10. Limited Liability Companies......Page 170 A. Taxes......Page 171 B. Comparing LLCs With Other Entities......Page 172 C. Forming and Operating a Limited Liability Company (LLC)......Page 173 D. Terminating a Limited Liability Company......Page 175 11. Personal Service Corporations......Page 176 A. Personal Service Corporations......Page 177 B. Taxes......Page 178 D. Potential Tax Problems......Page 179 F. Dissolving a Personal Service Corporation......Page 180 12. Family Businesses......Page 182 B. Income Splitting to Lower Taxes......Page 183 C. A Spouse in the Business......Page 187 D. Preserving a Family Business After Death......Page 188 13. Microbusinesses and Home-Based Businesses......Page 194 B. Deducting Part of the Cost of Your Home......Page 195 C. Calculating Your Home Office Deduction......Page 199 E. A Microbusiness as a Tax Shelter......Page 202 14. Fringe Benefits......Page 206 A. How Fringe Benefits Save Taxes......Page 208 C. Motor Vehicles......Page 209 E. Travel and Lodging......Page 210 H. Health Benefits......Page 213 I. Day Care Benefit......Page 215 K. Gifts, Rewards, Discounts, and Free Services for Employees......Page 216 L. Adoption Assistance......Page 217 M. Special Benefits for C Corporation Employees Only......Page 218 15. Retirement Plans......Page 220 A. Advantages of Retirement Plans......Page 221 B. Overview of Retirement Plan Types......Page 222 C. Details About Each Type of Retirement Plan......Page 223 D. Where to Go for a Retirement Plan......Page 231 E. Potential Tax Problems With Retirement Plans......Page 232 F. Withdrawing Money From Retirement Plans......Page 233 G. Closing Your Business......Page 235 16. Buying a Business......Page 236 A. Buying the Assets of a Business......Page 237 B. Buying Shares of Stock......Page 238 C. Assigning a Price to Business Assets......Page 241 D. State and Local Transfer Taxes......Page 243 17. Selling a Sole Proprietorship......Page 244 A. Selling Assets of a Sole Proprietorship......Page 245 B. The Importance of an Arms-Length Deal......Page 247 C. How to Protect Yourself From IRS Challenges......Page 248 18. When You Can’t Pay Your Taxes......Page 250 C. Paying in Installments......Page 252 D. What to Expect When the IRS Gets Serious......Page 254 E. Dealing With a Monster Tax Bill......Page 256 F. When the IRS Can Take Your Assets......Page 259 19. Audits......Page 262 A. Who Gets Audited?......Page 264 B. How Long Do You Have to Worry About an Audit?......Page 266 C. How the IRS Audits Small Businesses......Page 267 D. The Auditor’s Powers......Page 268 E. Should You Get Audit Help?......Page 269 G. What to Bring to an Audit......Page 270 I. What Auditors Look for When Examining a Business......Page 275 J. How to Behave at an Audit......Page 277 K. How to Negotiate With an Auditor......Page 279 L. Your Options After Getting an Audit Report......Page 281 M. When Your Audit Is Final......Page 282 20. Appealing IRS Audits......Page 284 A. IRS Appeals......Page 285 B. Contesting an Audit in Court......Page 288 21. Penalties and Interest......Page 292 A. Common Reasons for Penalties......Page 293 C. Understanding Penalty and Interest Notices......Page 294 D. How to Get Penalties Reduced or Eliminated......Page 295 F. Designating Payments on Delinquent Tax Bills......Page 297 22. Help Beyond the Book......Page 300 A. Finding Answers to Tax Questions......Page 301 B. Finding and Using a Tax Pro......Page 306 23. Answers to 25 Frequently Asked Tax Questions......Page 310 Glossary......Page 318 Appendix......Page 328 IRS Publications List......Page 329 Forms Checklist and Due Dates......Page 330 Quick and Easy Access to IRS Tax Help and Tax Products (Publication 2053A)......Page 331 Your Rights as a Taxpayer (Publication 1)......Page 332 Recordkeeping for Individuals (Publication 552)......Page 334 Interest and Penalty Information (Notice 433)......Page 340 Deposit Requirements for Employment Taxes (Notice 931)......Page 342 Form 2553, Election by a Small Business Corporation......Page 344 Form 4506, Request for Copy of Tax Return......Page 346 Form 4797, Sales of Business Property......Page 348 Form 7018, Employer’s Order Blank for Forms......Page 350 Form 8594, Asset Acquisition Statement......Page 352 Form 8821, Tax Information Authorization......Page 358 Form 8822, Change of Address......Page 362 Form SS-4, Application for Employer Identification Number......Page 364 Form W-4, Employee’s Withholding Allowance Certificate......Page 372 Form W-9, Request for Taxpayer Identification Number and Certification......Page 374 Form 1040, Schedule SE, Self-Employment Tax......Page 378 Index......Page 380 Related Products......Page 404

155 pages ; 24 cm Includes a list of tax guide and software

\"Fully revised & updated\"--Cover

The ultimate tax expert shows small business owners how to keep more of what you earn For millions of self-employed Americans, Eva Rosenberg is the go-to person for tax advice. Now, from the woman behind the wildly popular TaxMama.com--named one of the top seven tax advice websites by Inc. magazine--comes the ultimate guide to navigating the tax maze. Small Business Taxes Made Easy walks you through every stage of the process, showing you how to reduce your tax losses at every step. You'll learn: How to set up a business plan that helps minimize taxes The tax benefits of various forms of financing How to spot errors in 1099s and what to do about them Record-keeping techniques that legally increase deductible expenses

Helping the reader understand how to run a profitable and honest business while minimizing taxes is the goal of Tax Smarts for Small Business. Following its tax-saving strategies can give the small business owner year-round tax-saving opportunities, as well as having all your tax-time questions answered. <p>Accessible by anyone, it provides the reader with the latest IRS rules and answers everyday tax-related questions. It explores the IRS's definition of income and how to lower yours through expense deductions, tax credits and depreciation. It also answers the frequently asked questions surrounding withholding and paying taxes-a trouble area for many small businesses. Its extensive glossary of financial and tax terms makes it an easy-to-understand and essential reference for every small business owner's bookshelf.</p>

The ultimate tax expert shows small business owners how to keep more of what you earn For millions of self-employed Americans, Eva Rosenberg is the go-to person for tax advice. Now, from the woman behind the wildly popular TaxMama.com--named one of the top seven tax advice websites by Inc. magazine--comes the ultimate guide to navigating the tax maze. Small Business Taxes Made Easy walks you through every stage of the process, showing you how to reduce your tax losses at every step. You'll learn: How to set up a business plan that helps minimize taxes The tax benefits of various forms of financing How to spot errors in 1099s and what to do about them Record-keeping techniques that legally increase deductible expenses

The essential tax-strategy book for entrepreneurs who call themselves "boss."Knowing the ins and outs of the tax code is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line -- and the IRS is always watching. Tax Savvy for Small Business provides valuable strategies that will free up your time and money for what counts -- running your business, and running it effectively

Discusses record-keeping, deductible expenses, tax forms, audits, and other tax-related issues for self-employed women

<p><br><i>j.k. Lasser&#8217;s Small Business Taxes 2008</i> Gives You A Complete Overview Of Small Business Tax Planning In An Accessible Manner. Focusing On Strategies That Help You Use Deductions And Tax Credits Effectively, Shield Business Income, And Maximize Other Aspects Of Small Business Taxes, This Valuable Guide Will Show You How Your Actions In Business Today Can Affect Your Bottom Line From A Tax Perspective Tomorrow.<br></p> <h3>library Journal</h3> <p><p>weltman, An Attorney And Small-business Tax Expert, Aims With These Guides To Help Both Individual Taxpayers And Businesspersons Understand, Organize, And Plan For Tax Season. Individuals Will Find Straightforward Help In <i>1001 Deductions &amp; Tax Breaks</i> , Whose Chapters Cover Deductions Related To Medical Expenses, Travel, Real Estate, Investments, Loans, Automobiles, And More. Weltman Explains Each Potential Benefit In Terms Of The Conditions For Qualification, The Planning Required, Possible Pitfalls, And Where To Claim The Benefit. New Tax-law Alerts Appear Throughout The Text.</p><p>in <i>small Business Taxes</i> , Part 1 Covers Business Forms And The Effect A Business's Choice Of Form Has On Tax Obligations As Well As Instructs On Record-keeping Requirements To Ensure Eligibility For Deductions And Credits. Part 2 Discusses The Reporting Of Business Income; Part 3 Is A Primer On Deductions; And Part 4 Addresses Strategic Planning (e.g., How To Avoid Common Mistakes When Claiming Deductions).</p><p>each Book Has Been Revised To Reflect Changes In The Tax Law, And There Is Also An Online Updating Service Through The J.k. Lasser Web Site Jklasser.com. Both Editions' Use Of Everyday Examples, Illustrative Charts, And Checklists Helps Make Complex Rules Accessible. Recommended For Public Libraries.-joan Pedzich, Harris Beach Pllc, Rochester, Ny</i> </p>copyright 2006 Reed Business Information.</p>

The essential tax-strategy book for entrepreneurs who call themselves "boss."Named a "Best Tax Book" by EntrepreneurKnowing the ins and outs of the tax code is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line -- and the IRS is always watching.Tax Savvy for Small Business provides valuable strategies that will free up your time and money for what counts -- running your business, and running it effectively. It explains how to:deduct current and capitalized expenses write off up to $108,000 of long-term assets each year compare different business structures take advantage of fringe benefitskeep records that will head off trouble with the IRS get tax breaks from business losses deal with payroll taxes negotiate payment plans for late taxes handle an audit get IRS penalties and interest reduced maximize retirement fundsuse retirement funds as a tax break Completely updated, the 11th edition of Tax Savvy for Small Business provides the latest tax breaks, rules, forms and publications. You'll also find a list of the top 25 business deductions – the best deductions to take and how to claim them.List of FormsIRS Publications ListForms Checklist and Due DatesQuick and Easy Access to IRS Tax Help and Tax Products (Publication 2053-A)

"Are you paying more taxes than you have to? The IRS is certainly not going to tell you about a deduction you failed to take, and your accountant is not likely to take the time to ask you about every deduction you're entitled to. As former IRS Commissioner Mark Everson admitted, "If you don't claim it, you don't get it. That's money down the drain for millions of Americans." This invaluable book, updated to reflect changes in tax laws that took effect in 2011, not only lists the individual items that are deductible--from internet domain name costs to theft losses--but also where to list them on your income tax form. "Tax law isn't easy," the author explains, "but this book is.""-- Provided by publisher

<p><br><i>j.k. Lasser&#8217;s Small Business Taxes 2008</i> Gives You A Complete Overview Of Small Business Tax Planning In An Accessible Manner. Focusing On Strategies That Help You Use Deductions And Tax Credits Effectively, Shield Business Income, And Maximize Other Aspects Of Small Business Taxes, This Valuable Guide Will Show You How Your Actions In Business Today Can Affect Your Bottom Line From A Tax Perspective Tomorrow.<br></p> <h3>library Journal</h3> <p><p>weltman, An Attorney And Small-business Tax Expert, Aims With These Guides To Help Both Individual Taxpayers And Businesspersons Understand, Organize, And Plan For Tax Season. Individuals Will Find Straightforward Help In <i>1001 Deductions &amp; Tax Breaks</i> , Whose Chapters Cover Deductions Related To Medical Expenses, Travel, Real Estate, Investments, Loans, Automobiles, And More. Weltman Explains Each Potential Benefit In Terms Of The Conditions For Qualification, The Planning Required, Possible Pitfalls, And Where To Claim The Benefit. New Tax-law Alerts Appear Throughout The Text.</p><p>in <i>small Business Taxes</i> , Part 1 Covers Business Forms And The Effect A Business's Choice Of Form Has On Tax Obligations As Well As Instructs On Record-keeping Requirements To Ensure Eligibility For Deductions And Credits. Part 2 Discusses The Reporting Of Business Income; Part 3 Is A Primer On Deductions; And Part 4 Addresses Strategic Planning (e.g., How To Avoid Common Mistakes When Claiming Deductions).</p><p>each Book Has Been Revised To Reflect Changes In The Tax Law, And There Is Also An Online Updating Service Through The J.k. Lasser Web Site Jklasser.com. Both Editions' Use Of Everyday Examples, Illustrative Charts, And Checklists Helps Make Complex Rules Accessible. Recommended For Public Libraries.-joan Pedzich, Harris Beach Pllc, Rochester, Ny</i> </p>copyright 2006 Reed Business Information.</p>

Helping the reader understand how to run a profitable and honest business while minimizing taxes is the goal of Tax Smarts for Small Business. Following its tax-saving strategies can give the small business owner year-round tax-saving opportunities, as well as having all your tax-time questions answered. <p>Accessible by anyone, it provides the reader with the latest IRS rules and answers everyday tax-related questions. It explores the IRS's definition of income and how to lower yours through expense deductions, tax credits and depreciation. It also answers the frequently asked questions surrounding withholding and paying taxes-a trouble area for many small businesses. Its extensive glossary of financial and tax terms makes it an easy-to-understand and essential reference for every small business owner's bookshelf.</p>

The essential small business tax strategy book for the savvy entrepreneur Named "Best Tax Book" by Entrepreneur magazine Understanding the tax system is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line -- and the IRS is always watching. Develop the best tax plan for your small business, learn the ins and outs of the tax code, and create comprehensive strategies to get back the most from the IRS with this all-in-one guide. Tax Savvy for Small Business provides essential information that will free up your time and money for what counts -- running your business effectively. Completely updated for 2011 returns, it explains how to: - choose the best business entity - deduct current and capitalized expenses - write off long-term assets - keep records that will head off trouble with the IRS - get tax breaks from business losses - deal with payroll taxes - negotiate payment plans for late taxes - handle an audit - get IRS penalties and interest reduced - maximize retirement funds - take advantage of fringe benefits - use retirement funds as a tax break The 15th edition of Tax Savvy for Small Business is completely updated and provides the latest tax breaks, rules, forms, and publications, including substantive changes and the latest tax numbers for 2011 returns.

When does nontaxable business income become taxable? How do you calculate the cost of goods sold? What can be deducted? What is a fixed asset? This no-nonsense guide answers these common questions and more, empowering small business owners to understand how and why they are taxed and maximize their deductions. Youll learn when depreciation begins, how to classify payments to employees, how to track inventory and sales, and strategies for successful accounting. Coverage also includes: Tax benefits for employers Business classifications S corporation tax issues Deductible expenses Retirement plans Shareholder loans Family employee payroll And more Taxes can be intimidating and confusing, especially for a small business owner who may have only handled individual taxes in the past. Understanding the tax system is essential for all small business owners, whether they are filing on their own or with the help of an accountant. When it comes to running your finances, knowledge is power, and The Pocket Small Business Owner's Guide to Taxes puts the power in your hands!

184 p. : 23 cm Papers presented at an international conference held in Reykjavik, Iceland, Mar. 31-Apr. 4, 1993 Includes bibliographical references and index Perspectives on tax policy in small and open economies / A. Lans Bovenberg -- The scope for taxation and public expenditure in an open economy / Vidar Christiansen, Kare P. Hagen and Agnar Sandmo -- The equivalence between destination and non-reciprocal restricted origin tax regimes / Ben Lockwood, David de Meza and Gareth D. Myles -- Cross-border shopping and the optimum commodity tax in a competitive and a monopoly market / Vidar Christiansen -- Green policies and public finance in a small open economy / A. Lans Bovenberg and Frederik van der Ploeg -- Can a small nation gain from a domestic carbon tax? the case with R&D externalities / Diderik Lund -- Labour tax reform, employment and intergenerational distribution / Svend Erik Hougaard Jensen et al. -- Taxation, pensions and saving in a small open economy / D. Peter Broer, Ed W. M. T. Westerhout and A. Lans Bovenberg -- Taxation and household saving in open economies - evidence from the Nordic countries / Erkki Koskela and Matti Viren -- Manufacturing investment and taxation in the Nordic countries / Martin Dufwenberg, Heikki Koskenkyla and Jan Sodersten

Helping the reader understand how to run a profitable and honest business while minimizing taxes is the goal of Tax Smarts for Small Business. Following its tax-saving strategies can give the small business owner year-round tax-saving opportunities, as well as having all your tax-time questions answered.Accessible by anyone, it provides the reader with the latest IRS rules and answers everyday tax-related questions. It explores the IRS’s definition of income and how to lower yours through expense deductions, tax credits and depreciation. It also answers the frequently asked questions surrounding withholding and paying taxes—a trouble area for many small businesses. Its extensive glossary of financial and tax terms makes it an easy-to-understand and essential reference for every small business owner’s bookshelf.

By setting up a limited company you stand to save tens of thousands of pounds in tax and national insurance every year. This is because UK corporation tax rates are much lower than income tax rates. Furthermore, company owners can pay themselves dividends, which are taxed much less heavily than other forms of income. Finally, setting up a company with your spouse allows you to split your income which almost always results in a lower tax bill. This plain English tax guide tells you everything you need to know about the tax benefits of running your business through a company and contains numerous examples and tax-planning tips.

vi, 325 pages ; 28 cm "January 2005." "Minnesota Small Business Assistance Office"--Cover Includes index

<p><br><i>j.k. Lasser&#8217;s Small Business Taxes 2008</i> Gives You A Complete Overview Of Small Business Tax Planning In An Accessible Manner. Focusing On Strategies That Help You Use Deductions And Tax Credits Effectively, Shield Business Income, And Maximize Other Aspects Of Small Business Taxes, This Valuable Guide Will Show You How Your Actions In Business Today Can Affect Your Bottom Line From A Tax Perspective Tomorrow.<br></p> <h3>library Journal</h3> <p><p>weltman, An Attorney And Small-business Tax Expert, Aims With These Guides To Help Both Individual Taxpayers And Businesspersons Understand, Organize, And Plan For Tax Season. Individuals Will Find Straightforward Help In <i>1001 Deductions &amp; Tax Breaks</i> , Whose Chapters Cover Deductions Related To Medical Expenses, Travel, Real Estate, Investments, Loans, Automobiles, And More. Weltman Explains Each Potential Benefit In Terms Of The Conditions For Qualification, The Planning Required, Possible Pitfalls, And Where To Claim The Benefit. New Tax-law Alerts Appear Throughout The Text.</p><p>in <i>small Business Taxes</i> , Part 1 Covers Business Forms And The Effect A Business's Choice Of Form Has On Tax Obligations As Well As Instructs On Record-keeping Requirements To Ensure Eligibility For Deductions And Credits. Part 2 Discusses The Reporting Of Business Income; Part 3 Is A Primer On Deductions; And Part 4 Addresses Strategic Planning (e.g., How To Avoid Common Mistakes When Claiming Deductions).</p><p>each Book Has Been Revised To Reflect Changes In The Tax Law, And There Is Also An Online Updating Service Through The J.k. Lasser Web Site Jklasser.com. Both Editions' Use Of Everyday Examples, Illustrative Charts, And Checklists Helps Make Complex Rules Accessible. Recommended For Public Libraries.-joan Pedzich, Harris Beach Pllc, Rochester, Ny</i> </p>copyright 2006 Reed Business Information.</p>

<p>this Book Provides Information On Hundreds Of Potential Tax Deductions That Are Available To Small Business That Are Required To File Federal Income Taxes. For Each Deduction Mentioned, The Book Also Lists The Various Tax Schedules And Forms To Use, As Well As The Line To Claim The Deductions. References And Sources For Additional Information Are Also Provided For Each Deduction.</p>

<p><br><i>j.k. Lasser&#8217;s Small Business Taxes 2008</i> Gives You A Complete Overview Of Small Business Tax Planning In An Accessible Manner. Focusing On Strategies That Help You Use Deductions And Tax Credits Effectively, Shield Business Income, And Maximize Other Aspects Of Small Business Taxes, This Valuable Guide Will Show You How Your Actions In Business Today Can Affect Your Bottom Line From A Tax Perspective Tomorrow.<br></p> <h3>library Journal</h3> <p><p>weltman, An Attorney And Small-business Tax Expert, Aims With These Guides To Help Both Individual Taxpayers And Businesspersons Understand, Organize, And Plan For Tax Season. Individuals Will Find Straightforward Help In <i>1001 Deductions &amp; Tax Breaks</i> , Whose Chapters Cover Deductions Related To Medical Expenses, Travel, Real Estate, Investments, Loans, Automobiles, And More. Weltman Explains Each Potential Benefit In Terms Of The Conditions For Qualification, The Planning Required, Possible Pitfalls, And Where To Claim The Benefit. New Tax-law Alerts Appear Throughout The Text.</p><p>in <i>small Business Taxes</i> , Part 1 Covers Business Forms And The Effect A Business's Choice Of Form Has On Tax Obligations As Well As Instructs On Record-keeping Requirements To Ensure Eligibility For Deductions And Credits. Part 2 Discusses The Reporting Of Business Income; Part 3 Is A Primer On Deductions; And Part 4 Addresses Strategic Planning (e.g., How To Avoid Common Mistakes When Claiming Deductions).</p><p>each Book Has Been Revised To Reflect Changes In The Tax Law, And There Is Also An Online Updating Service Through The J.k. Lasser Web Site Jklasser.com. Both Editions' Use Of Everyday Examples, Illustrative Charts, And Checklists Helps Make Complex Rules Accessible. Recommended For Public Libraries.-joan Pedzich, Harris Beach Pllc, Rochester, Ny</i> </p>copyright 2006 Reed Business Information.</p>

Fully updated for the 2007 tax season, 422 Tax Deductions for Business and Self Employed Individuals contains a wealth of legitimate tax deductions for the harried small-business person or freelancer. Written in the author's trademark clear, conversational tone, the book features a list of individual deductions, from Accountants to Zoning, including some that tax accountants may forget to ask about, some that popular software programs may get wrong, and some that the IRS has chosen not to list on their forms. The result? More savings and more working capital. This must-have guide earned an official recommendation by the American Home Business Association.