Home Business Tax Deductions: Keep What You Earn

Front Cover
Nolo, Nov 9, 2010 - Business & Economics - 542 pages
2 Reviews
Keep your hard-earned money in your home business!

Completely updated for 2010 returns

Tax deductions are essential to any business, but even more so when your office is also your home. Don't spend thousands on an accountant --turn to Home Business Tax Deductions and do it yourself!

Home Business Tax Deductions will help you write off:

  • your home office
  • start-up and operating expenses
  • vehicles and travel
  • entertainment and meals
  • health insurance and medical bills
  • inventory
  • equipment

    The 7th edition is completely updated with all the latest tax information, eligibility requirements and deductions for 2010 returns. Home Business Tax Deductions also covers how to avoid being classified as a hobby business, steer clear of home-business tax scams, stay out of trouble with the IRS and take special deductions if your business loses money.
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    What people are saying - Write a review

    User Review - Flag as inappropriate

    A very useful DIY tax guide book!
    “Home Business Tax Deductions” is a very useful DIY tax guide book. It explains complicated tax law in simple and plain English. For example, it tells you how you
    can correctly claim Sect. 179 bonus deductions. It also tells you that you can deduct up to $5,000 ($10,000 for 2010) for start-up expenses that you incur BEFORE you start your business. The tips on avoiding IRS audit are also great.
    I used TaxCut software, but it is still good to have this book to explain some items in details.
    Gang Chen, AIA, LEED AP BD+C, Author of “LEED GA Exam Guide,” “Architectural Practice Simplified,” “Planting Design Illustrated,” and other books on various LEED exams, Scribus, architecture, and landscape architecture
     

    User Review - Flag as inappropriate

    Just began reading this book but the information so far is priceless. Final review to be done once I complete it.

    Contents

    Your Home Business Tax Deductions Companion
    1
    1 Some Tax Basics
    3
    2 Are You Really in Business?
    23
    3 StartUp Expenses
    51
    4 Home Business Operating Expenses
    65
    5 Deducting LongTerm Assets
    77
    6 The Home Office Deduction
    135
    7 Meal and Entertainment Expenses
    171
    11 Hiring Workers
    269
    12 Medical Expenses
    311
    13 Retirement Deductions
    355
    14 Additional Home Business Deductions
    373
    15 Record Keeping and Accounting
    413
    16 Claiming Tax Deductions for Prior Years
    455
    17 Staying Out of Trouble With the IRS
    467
    18 Help Beyond This Book
    485

    8 Car and Local Travel Expenses
    189
    9 Business Travel
    225
    10 Inventory
    255
    Index
    505
    Related Products
    529
    Copyright

    Common terms and phrases

    About the author (2010)

    Stephen Fishman is the author of many Nolo books, most recently Tax Deductions for Professionals. Other titles include Deduct It! Lower Your Small Business Taxes, Every Landlord's Tax Deduction Guide and Home Business Tax Deductions - plus many other legal and business books. He received his law degree from the University of Southern California. After time in government and private practice, he became a full-time legal writer.

    Bibliographic information