Tax Savvy for Small Business: A Complete Tax Strategy Guide

by Frederick W. Daily Attorney

Overview

Create a business tax strategy that will save you time, energy, and money

Getting your tax matters on track will free up your time to do what really counts: run a profitable business. Tax Savvy for Small Business shows you how to:

• deduct operating expenses
• deduct travel, vehicle, and meal expenses
• take advantage of tax credits
• write off long-term assets
• compare business structures
• keep solid business records, and
• handle an IRS audit.

This completely updated edition of Tax Savvy for Small Business covers new tax rules under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and how those rules affect small business owners.

Completely updated to cover the new Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Product Details

ISBN-13:	9781413328165
Publisher:	NOLO
Publication date:	01/26/2021
Edition description:	Twenty first Edition
Pages:	376
Sales rank:	1,124,720
Product dimensions:	8.30(w) x 10.80(h) x 0.80(d)

About the Author

Frederick W. Daily was 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 and Tax Savvy for Small Business.

Table of Contents

Tax Basics 1. Deductible Business Expenses 2. Writing Off Long-Term Business Assets 3. Bookkeeping and Accounting 4. Business Losses and Failures 5. Tax Concerns of Employers 6. Sole Proprietorships—Solos, Freelancers, and Independent Contractors 7. C Corporations 8. S Corporations 9. Partnerships 10. Limited Liability Companies 11. Qualified Personal Service Corporations 12. Family Businesses 13. Home-Based Businesses 14. Fringe Benefits 15. Retirement Plans 16. Buying a Business 17. Selling or Closing a Sole Proprietorship 18. When You Can't Pay Your Taxes 19. Audits 20. Appealing IRS Audits 21. Penalties and Interest 22. Help Beyond the Book 23. Answers to Frequently Asked Tax Questions Glossary Appendix Index

Editorial Reviews

"This plain-English guide will show you how to make the most of your tax-deductions". Business Week

"Even if you use an accountant, pick up a copy of this book for further understanding and tax management." Small Business Opportunities

"A completely invaluable guide... keep this on your bookshelf for future reference. Five stars (we love it)." Inc. Magazine

"The essential small business tax strategy book for the savvy entrepreneur". Named "Best Tax Book" by Entrepreneur magazine

From the Publisher