Tax Savvy for Small Business

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Nolo, Dec 1, 2009 - Business & Economics - 380 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 13th 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
61
5 Business Losses and Failures
77
6 Tax Concerns of Employers
83
7 Sole ProprietorshipsSolos Freelancers and Independent Contractors
105
8 C Corporations
123
9 S Corporations
149
10 Partnerships
163
17 Buying a Business
253
18 Selling or Closing a Sole Proprietorship
263
19 When You Cant Pay Your Taxes
269
20 Audits
283
21 Appealing IRS Audits
305
22 Penalties and Interest
313
23 Help Beyond the Book
321
24 Answers to Frequently Asked Tax Questions
333

11 Limited Liability Companies
179
12 Qualified Personal Service Corporations
187
13 Family Businesses
193
14 HomeBased Businesses
205
15 Fringe Benefits
219
16 Retirement Plans
235
Glossary
343
Appendix
353
Index
357
Related Products
387
Copyright

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About the author (2009)

Frederick W. Dailyis 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 & 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.

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