use retirement funds as a tax break
Completely updated, the 10th edition of Tax Savvy for Small Business provides the latest tax breaks, rules, forms and publications.
Customer Reviews:
No business, whether big, medium or small, can afford to miss........2007-04-07
Tax attorney Frederick W. Daily provides the 10th updated edition of TAX SAVVY FOR SMALL BUSINESS, which packs in the latest tax updates and details on deductions, ownership structures, IRS bookkeeping requirements, and more. It combines a complete strategy approach with insights no business, whether big, medium or small, can afford to miss.
Awesome book.......2007-03-15
I just set up an LLC and wanted a general education. This is one of several books I bought. It is the best of the bunch. Great explanations and insights by a guy who has been involved with tax audits and has a good idea of what flies with the IRS and what does not.
Book Description
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
Customer Reviews:
It is ok !!.......2007-08-17
The first few chapters are good but later chapters are borring. Although the author has quoted many excerpts humorously I think it is still incomplete.
Also this book mentions many tax websites/ links but most of them know or will know by googling.
TaxMama Delivers on Small Business Taxes.......2007-05-14
Eva delivers a wonderfully comprehensive book on small business tax from start up to dealing with the nitty gritty of tax situations once the operation is up and humming. There are thirteen chapters filled with clear language, easy to follow examples, and oodles of follow through website addresses at the end of the chapters. This is a MUST book for both the entrepreneur considering starting up a business and an established small business owner who needs to review tax issues as their business is growing. Tax Mama , Eva brings a refreshing and easy read from business plans and recordkeeping to deductions and tax notices.
Good solid advice.......2007-05-13
Excellent primer for new business and reference for those a few years in. I found it covered most topics of interest except state taxes, which in the DC/MD/VA area is still a mystery to me.
Painful on the Surface, but Needed and Well Done.......2006-09-04
Taxes? Ouch! It's rather like going to the dentist. A necessary evil. Most of us small business owners love the profits, but cringe at the taxes. Uncle Sam can be intimidating and a book like this can help overcome the fears, while explaining the options. It answers most of the FAQ's we face and does so in a thorough and easy to understand manner. I will probably refer to it many times as various tax issues arise.
You'll be happy you bought it!.......2005-04-03
This is an exceptionally well-written and practical book on small business taxation and a very good starting point for anyone who is interested in learning how to keep good business records.
Amazon.com
No matter what time of year it is, small-business owners and operators must keep atop their tax situation. For more than two decades, author and attorney Frederick Daily has taught entrepreneurs the ins and outs of the tax code and offered suggestions to help them remain in the black and out of hot water with the IRS. The revised third edition of his Tax Savvy for Small Business contains dozens of these tips along with real-life examples that show how they are used in comparable situations. --Howard Rothman
Book Description
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.
Fortunately, 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.
Tax Savvy for Small Business explains how to:
*deduct current and capitalized expenses
*write off long-term assets
*write off up to $24,000 of long-term assets each year
*compare the advantages of different legal structures
*take advantage of fringe benefits
*keep records that will head off trouble with the IRS
*get tax breaks from business losses
*pay payroll taxes on time
*deduct home-office expenses
*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
Completely updated, the 6th edition covers the Job Creation and Worker Assistance Act of 2002, which includes depreciation and net operating loss rules that will help your bottom line. The book also provides the latest tax numbers, rules, forms and publications.
Tax Savvy for Small Business is an essential book for entrepreneurs, independent contractors, small-business owners and anyone else making money on their own -- get it today!
Customer Reviews:
This Book Saved Me .......2004-09-10
I bought this book as soon as I was notified of an upcoming IRS audit. The sections on reconstructing logs and receipts really saved me. The auditor accepted everything that I reconstructed. I also knew exactly what to expect at the audit. I am now keeping my records in a way that leaves me unafraid of the IRS anymore. This book, along with Mr. Daily's "Stand Up To the IRS" is the best investment I have ever made in my small business.
A Great Buy.......2004-06-19
I am fan of the nolo.com website and I am a bigger fan of the Nolo Books. We started our software company as and LLC and turned it into a corporation a couple of years ago. I didn't buy this book before that point, but wish I did. Either way it is great that I have the book now. The book is well organized and I read through it cover to cover originaly. Tax Savvy now sits on my desk and I can use it as a quick reference. I am the kind of person that likes to know the "what, how and why" before I talk to our accountants or our lawyers, and this book enables me to do that. Bottom line... a must have
Amazing!.......2004-05-18
Thank you, Thank you, Thank you!!! This book has saved my business thousands of dollars! Amazingly it is both comprehensive and accessible. Daily is hugely knowlegable and a great writer. He lays out strategy after strategy to minimize wasted time and maximize profit. I thought I knew what I was doing before but this book has opened up whole new worlds of opportunity for me. I better learned what I can and can't deduct, how to take advantage of fringe benefits, how to reduce IRS penalties and much more. Tax Savvy for Small Business is literally worth its weight in gold.
Excellent overview - concise and to the point........2003-08-11
This guide is different from the many tax guides out there from big names like Ernst & Young, etc. because it is more focussed on small businesses and you get the most relevant information in the most concise fashion. There in lies the limitation of this great book. You may have to refer to the other tax guides if your particular situation is too unique.
But the conciseness and focussed approach was extremely helpful in clarifying a lot of points for me. I had tried reading several of the bigger guides (with three times as many pages as this book) and gotten confused because it was too much information. So when I saw the Nolo guide, I was pleasantly surprised that every topic in the book was relevant to me as a small business owner! It was perfect for my needs. I now started understanding the very same topics I had so much difficulty following in the other books. For example - I was trying to research the differences between S Corporations and LLCs. When I opened this Nolo guide, I went straight to the chapter on LLCs and read the section - Comparing LLCs with Other Entities. In one sentence I knew the difference between these two entities! According to the book, the basic difference being that you can allocate income and expenses disproportionately (to share ownership) in an LLC but not in a S Corporation! Wow! I liked the speed with which I could find this critical piece of information I was researching.
The book is divided into 6 parts - The Basics (Business Income and Tax Deductible Expenses, Recordkeeping and Accounting, etc.), The Form of Your Business (Sole Proprietorships, Partnerships, S Corporations, etc.), Thinking Small (Family Businesses, Microbusinesses and Home-Based Businesses), Fringe Benefits (Retirement Plans etc.), Buying or Selling a Business, and Dealing with the IRS. There isn't a single page that is irrelevant.
If you have very advanced questions, you are better off looking through a bigger book but you would benefit tremendously by reading this book first. It will give you a firm grounding in the basics across the board. Good luck!
Good ways to save tax dollars.......2002-09-03
This book not only explains deductions but offers good ideas for saving tax dollars. Highly recommended for folks that have some accounting or tax knowledge. Excellent reference if you're thinking of starting a business, or you already have.
Average customer rating:
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A Practical Business and Tax Guide for the Craftsperson
Fred Bair
Manufacturer: Gorsuch Scarisbrick Pub
ProductGroup: Book
Binding: Paperback
 General
| Business & Investing
| Subjects
| Books
Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
| Auditing
| Bookkeeping
| Financial
| General
| Governmental
| International
| Management
| Taxes
ASIN: 0942280237 |
Book Description
Written for entrepreneurs, professional partnerships, and small business owners, this book answers the key questions about this hot opportunity for structuring a business. Limited liability companies offer business owners corporate benefits without corporate taxation. Author Scott Friedman explains in plain English how this formation is suitable for virtually any business.
Customer Reviews:
outdated information.......2004-03-10
This edition date from 1995!! It is becoming seriously outdated, for instance page 28 "federal state treatment of one-member LLCs remains uncertain", this is not true anymore, a quick search on the IRS website will give you the answer (you can elect to be treated as sole proprietorship or as corporation). And since this book was published, Vermont and Massachussets have enected LLC laws. Don't buy outdated information, especially in the legal field.
A Rip Off.......2004-01-30
You can get more more accurate information from your secretary of state for free. The author has taken generalized information from each state, compiled it into a book, and given it a title. The author is a lawyer. Think about it. What do you think you will get from a lawyer for 15 bucks? Not much! I returned the book for a refund.
One of the best on the subject.......1999-08-18
I checked out about 10 books on the subject of creating an LLC from my local library and this is one of (if not the) best.
Get a copy of it. Very thorough. Especially with making sure you are able to be taxed as a partnership and not as a corporation.
A well-written guide to starting and running your LLC........1998-11-30
This is a "Must Read" choice for anyone thinking of starting or runnning a small business, as Limited Liability Companies (LLC's) have become the preferred choice for new and small companies. This guide takes the reader from total ignorance about LLC's to full understanding of the subject in an easy-to-read style that also doubles as a serious reference book.
LLC's enjoy favorable tax treatment which the author explains in a way that doesn't need your CPA to interpret. And unlike a stock corporation, especially S-corporations that can only have one class of stock, LLC's can allocate profits, losses, voting rights, and most other stockholder privileges almost any way the owners choose.
This guide explains how to start up an LLC, including sample forms, contacts at state agencies to file all the legal documents, and contains numerous examples of how to take full advantage of an LLC's flexibility and tax benefits.
Book Description
If you're in business for yourself, don't sell yourself short. Reap all the tax-saving benefits you deserve with this clear, concise, step-by-step guide that shows you exactly how to take advantage of every tax deduction allowable by law. Inside, you'll find all the facts the IRS doesn't want you to know, and glean all the advice you need to:
* Convert everyday living expenses into business deductions
* Audit-proof your tax return -- how to keep records that will satisfy the IRS
* Choose the form of entity that's best for you
* Utilize insider's tips on numerous deductions: your home office, business equipment, car, credit card interest, clothing, meals, entertainment, trips and vacations, and medical expenses
* Use hiring techniques that save you money
* Income shifting techniques -- make your family part of your tax shelter
Plus, you'll get invaluable insights into retirement plans for the self-employed, including IRAs, Keoghs, SEP and 401(k) plans, and much, much more. Packed with informative charts, worksheets, questionnaires, and self-tests, Keep Your Hard-Earned Money provides solid advice you can take to the bank.
Customer Reviews:
Spend Your Hard-Earned Money On Another Book.......2000-06-07
As an owner of a small business, I'm always reading and keeping up with the tax laws, and ways to implement legal tax avoidance strategies. I have read quite a few books on the subject. Mr. Fellman's book is technically accurate, however I had trouble with his "joking" style of writing. I suppose he is trying to make a dry subject more interesting, but I found the style to be condescending and that it sometimes made the material more confusing than it is. Yes, the tax laws are tangled, but I prefer to read without the joking, questionairre format. A more readable, straightforward book on the subject is Robert Cooke's Doing Business Tax Free. Also, for a true in-depth reference volume of the small business owner's tax avoidance options, I found it helpful to skim & reference the very thick, but very informative, How to Pay Zero Taxes by Jeff Schepper.
Book Description
This is the best time ever to be a Woman Business Owner! And
Capitalizing On Being Woman Owned will show you why.
Government agencies need you in order to meet their vendor diversity goals. See where to find them.
The Federal Government requires its contractors to use Woman Owned Businesses as subcontractors. Learn how to let them know you exist.
Commercial enterprises are looking for businesses owned by women. Find out where they are looking.
Capitalizing On Being Woman Owned provides practical information and guidance on:
- Knowing the advantages of being woman owned.
- Identifying, qualifying and marketing to all types of government, educational and business entities.
- Understanding the reasons and benefits of "certification"
- Finding real resources and using them effectively.
- Using research and analysis tools, including web site addresses.
This book is also beneficial for anyone who works with Woman Owned Businesses, including accountants, attorneys, marketing or PR firms and ad agencies.
Customer Reviews:
Review: Capitalizing on Being Woman Owned.......2007-06-14
Capitalizing on Being Woman Owned: Expert Advice for Women Who Have or Are Starting Their Own Business Including Marketing Research, Planning, Government Support, And Tax Breaks. The title says it all. This book is a step-by-step guide for women who own businesses and are looking to further them.
A Straightforward and Useful Guide Book.......2007-02-07
"Capitalizing on Being Woman Owned" is a useful reference book especially for majority-women owned businesses whose customers could include federal, state, and local governments and/or schools. The general gist of Christy's advice is to identify who your potential customers are first and then find out what sort of certifications they might require in order to qualify you as a "diverse vendor" with whom they have special incentives to do business. The book is long on information about selling to government and public organizations and offers less specific information about selling to businesses, so the extent of the usefulness of the book will depend on your industry and type of product or service. For example, if you are a construction company, you can imagine all kinds of government contracts to build and renovate buildings. If you are instead selling food or grocery items your customers will be private companies/distributors, and Christy spends less time on the certifications you'll need (WBENC and/or NWBOC) and how to take advantage of them to sell to such customers. I think that the book could use some colorful examples, actually, of real women and real businesses that have benefited from being certified as women or minority owned.
Overall, this is a straightforward, to-the-point book that offers good solid advice. Along that line, a couple of my favorite sentences are the following: (p. 8-9)"This book is not a guide to grants or free money for starting and running a business. If it were, it would be a guide to nowhere...It is very important to realize that most of the resources available are tools, not money, to help you establish and run your businesses. The money that is available is almost always in the form of loans." Also, p. 17: "Sometimes being woman owned is an advantage, sometimes it is an obstacle, and sometimes it is immaterial. You need to understand how to determine when to use the built-in angle and when another angle would be more effective."
I recommend both Christy's book as well as Mary Cantando's "The Woman's Advantage" to women who are interested in advantageous use of women and minority-owned business designations.
[...]
Great Resource for A Woman Owned Business.......2006-11-30
Janet W. Christy has written an excellent resource book for a woman owned business. It is very concise and provides easy to find reference points for all types of businesses. If you are serious about expanding your company and capitalizing on being a woman owned business, this is truly a must read book. I personally have grown and increased my earning potential from reading this book and my company is in the process of being certified as a minority owned business due to some of the items in this book. Use it as an investment tool for your business!
Capitalizing on Being Woman Owned.......2006-10-21
This book is one of the best reference books a Women Owned Business could own. I keep mine on the shelf next to the Dictionary and Thesaurus. Easy to read and apply to your particular business. If you are serious about Women Owned Business and how to maximize yourself, this book is a must read
Helpful and Easy To Use!.......2006-10-20
So many "helpful" books are only helpful if you read them cover-to-cover. This book is so well designed as a RESOURCE, which is what I loved. It was easy to find the areas pertaining to my situation, which allowed me to skip the parts I didn't need.
I'd recommend this book to everyone from those who are curious as to whether they could benefit from being woman-owned to those who just want to fully capitalize on this status.
Average customer rating:
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Tax Planning and Preparation Made Easy for the Self-Employed
Gregory L. Dent , and
Jeffery E. Johnson
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Paperback
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Small Business & Entrepreneurship
| Business & Investing
| Subjects
| Books
Tax Planning
| Taxes
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
General
| Taxation
| Law
| Subjects
| Books
ASIN: 0471114936 |
Book Description
All the information you need to file quickly, correctly, and take advantage of the tax opportunities that self-employment affords
Written by two experts, this invaluable guide is specifically geared to meet your needs as part of America's rapidly growing segment of self-employed taxpayers. This book puts complicated tax jargon into everyday language you can understand. You'll find dozens of money-saving tips, along with practical advice for long-term strategic planning; actual, usable tax forms that are often difficult to find; and line-by-line instructions on how to file Schedules C, C-EZ, SE, and Forms 1040ES and 8829. Discover the answers to a myriad of tough questions that can cause problems at tax time, including:
- When can you safely claim a home office deduction?
- What kind of records should you keep in case there's an audit?
- How should you depreciate office equipment?
- What key considerations are important in choosing a retirement plan?
- And more!
Tax Planning and Preparation Made Easy for the Self-Employed also includes:
- Usable tax forms
- Depreciation worksheets
- Standard meal allowance chart for business travel
- Property class tables
GREGORY L. DENT is a journalist who specializes in tax issues for the self-employed. JEFFREY E. JOHNSON is an attorney who deals in tax law.
Customer Reviews:
GREAT information.............2000-08-27
If you are confused on your taxes, this book will enlighten some of the confusing moments at tax time. There are so many hidden tax terms when you are self-employed and this book really helps you to understand them all. However, if you are wanting to become an expert at tax returns, this book will help. But if you are just wanting to do your taxes, go to an office supply store and buy the new tax software on the market. The software is alot easier than trying to understand tax terms in a book.
Book Description
Designed to help entrepreneurs navigate the realities of pre-business setup, this resource fully answers common questions such as How should initial capital funds be handled? What is the best way to categorize such money? What should be done with money for employees as withholdings and borrowed money? and How should investment funds be properly reported? Particular attention is paid to definitional terms, the nature of start-up costs, the various types of businesses and their advantages and disadvantages, the cost of goods sold, the amortization and depreciation rules, the preparation for tax audits, and the compensation of owners. Also included are the nine factors that the IRS weighs to determine if a business has a profit motive and explanations on the most common business-startup tax forms.
Books:
- Taxes and Business Strategy: A Planning Approach (3rd Edition)
- The 8th Habit: From Effectiveness to Greatness
- The Art of Project Management (Theory in Practice (O'Reilly))
- The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
- The Bond Book: Everything Investors Need to Know About Treasuries, Municipals, GNMAs, Corporates, Zeros, Bond Funds, Money Market Funds, and More
- The Change Handbook: Group Methods for Shaping the Future
- The Change Monster: The Human Forces that Fuel or Foil Corporate Transformation and Change
- The Changing Sky: A Practical Guide to Predictive Astrology
- The Elegant Solution: Toyota's Formula for Mastering Innovation
- The Essays of Warren Buffett : Lessons for Corporate America
Books Index
Books Home
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- Mitt & Minn at the Wisconsin Cheese Jamboree
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Deduct It! Lower Your Small Business Taxes
Legal Guide for Starting & Running a Small Business
JK Lasser's Small Business Taxes 2007: Your Complete Guide to a Better Bottom Line (J K Lasser's New Rules for Small Business Taxes)
Home Business Tax Deductions: Keep What You Earn
Legal Forms for Starting & Running a Small Business (Book with CD-Rom)
