Tax Savvy for Small Business: Year-round Tax Strategies to Save You Money

by Frederick W. Daily

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. 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. It explains how § deduct current and capitalized expenses § write off up to $105,000 of long-term assets each year § compare the advantages of LLCs, corporations, sole proprietorships and more § 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 Completely updated, the 10th edition of Tax Savvy for Small Business provides the latest tax breaks, rules, forms and publications.

Genres: Business, Finance, Nonfiction, Money, Taxation

Paperback

First published January 1, 1995

Reviews

[Paul LaFontaine · Rating 5 out of 5]

A small business owner that does not understand the tax code is giving away a major advantage of being in business in the first place. Being smart on tax deductions and structure allows a business owner to legally, and assertively, put money back in her own pockets.

This is a great book. The author breaks down the topics in bite sized chunks and provides funny, memorable examples. This book will stay downloaded for me and be a constant go to as I continue to learn how to use my growing tax knowledge to structure for success.

Highly recommend.

[Shhhh... Books · Rating 4 out of 5]

I read this to help out with our taxes and my husband's small business. It was helpful - not a how-to, in most cases, but a guide surveying all the major issues so you can figure out what questions to ask and go deeper.

[Penelope · Rating 4 out of 5]

It answered every question I had and provided excellent additional references to check out.

[Jeb Hunt · Rating 5 out of 5]

Thorough, well-written, and easy to understand. Highly recommend for anyone looking to gain a basic understanding of business taxes.

[Dustin · Rating 5 out of 5]

Fantastic well of information. Reading it is only a joy in the fact that every word you read will save your company money... not because it's actually entertaining. I'm guessing that is why you see some 3-star reviews. I recommend this to anyone!

[Justin Lakey · Rating 4 out of 5]

Seemed useful to me. Real test will start soon when I do my taxes. I didn't read the whole book, just the parts that pertained to a LLC, like 2/3 of it. That was a nice idea to have separate chapters for different types of companies.

[Annie]

CYA: documentation!

[Alix · Rating 5 out of 5]

Absolutely the most clearly written book on taxes for small business. Even my accountant was impressed with my knowledge:)