Tax Savvy for Small Business

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Nolo, 2008 - Business & Economics - 379 pages
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The essential tax-strategy book for entrepreneurs who call themselves "boss."
Named a "Best Tax Book" by Entrepreneur magazine
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. 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.
Tax Savvy for Small Business provides essential information that will free up your time and money for what counts -- running your business 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 benefits
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
use retirement funds as a tax break
The 12th edition of "Tax Savvy for Small Business" is completely updated and 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, trouble-free.
  

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Contents

3 Writing Off LongTerm Business Assets
37
4 Bookkeeping and Accounting
63
5 Business Losses and Failures
79
6 Tax Concerns of Employers
85
7 Sole ProprietorshipsSolos Freelancers and Independent Contractors
107
8 C Corporations
125
9 S Corporations
151
10 Partnerships
165
17 Buying a Business
255
18 Selling a Business
265
19 When You Cant Pay Your Taxes
271
20 Audits
285
21 Appealing IRS Audits
307
22 Penalties and Interest
315
23 Help Beyond the Book
323
24 Answers to Frequently Asked Tax Questions
335

11 Limited Liability Companies
181
12 Qualified Personal Service Corporations
189
13 Family Businesses
195
14 Microbusinesses and HomeBased Businesses
207
15 Fringe Benefits
221
16 Retirement Plans
237
Glossary
345
Appendix
355
Index
359
Related Products
390
Copyright

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About the author (2008)

Daily graduated from the University of Florida College of Law in 1968. He later received a tax law degree and is now a practicing tax attorney in San Francisco. He is a frequent speaker at continuing education programs for tax professionals.

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