Tax Savvy for Small Business

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Nolo, Nov 30, 2012 - Business & Economics - 367 pages
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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 2012 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   This 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 2012 returns.

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About the author (2012)

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 & 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 A. Quinn started his career in the San Francisco office of PriceWaterhouseCoopers (formerly Price Waterhouse) in 1970, upon graduation from the University of San Francisco with a degree in accounting. He is a Certified Public Accountant in both Nevada and California, and also holds a Masters of Science in Taxation degree from Golden Gate University, in San Francisco. He is a member of the California Society of Certified Public Accountants and the American Institute of Certified Public Accountants. He has authored weekly tax columns in the North Lake Tahoe Bonanza for nearly 40 years.
 

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