JK Lasser's Small Business Taxes 2010 : Your Complete Guide to a Better Bottom Line

by Barbara Weltman ( ; )

• ISBN13: 9780470572993
• ISBN10: 047057299X
• Format: eBook
• Copyright: 2009-10-01
• Publisher: Wiley

Summary

The tax facts and strategies that every small business owner needs to knowWritten in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year.Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow. Includes detailed coverage of the newest tax laws and IRS rules Reveals strategies that can help you run a tax-smart business all year long Contains comprehensive information on each deductible expense, including dollar limits and record-keeping requirements Offers clear instructions on where to report income and claim deductions on your tax forms Provides help with state taxes and a guide to information returns you may need to file Other titles by Weltman: J.K. Lasser's 1001 Deductions & Tax Breaks 2010Owning a small business is a big responsibility. While many small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser's Small Business Taxes 2010, you'll quickly discover how.

Table of Contents

Preface

Introduction

Organization

Business Organization

Tax Year and Accounting Methods

Recordkeeping for Business Income and Deductions

Business Income and Losses

Income or Loss from Business Operations

Capital Gains and Losses

Gains and Losses from Sales of Business Property

Business Deductions and Credits

Employee Compensation: Salary, Wages, and Employee Benefits

Travel and Entertainment Expenses

Car and Truck Expenses

Repairs, Maintenance, and Energy Improvements

Bad Debts

Rents

Taxes and Interest

First-Year Expensing, Depreciation, Amortization, and Depletion

Advertising Expenses

Retirement Plans

Casualty and Theft Losses

Home Office Deductions

Medical Coverage

Deductions for Farmers

Domestic Production Activities Deduction

Miscellaneous Business Deductions

Roundup of Tax Credits

Tax Planning For Your Small Business

Income and Deduction Strategies

Tax Strategies for Opening or Closing a Business

Tax Strategies for a Sideline Business

Tax Strategies for Multiple Businesses

Alternative Minimum Tax

Other Taxes

Filing Income Tax Returns and Paying Taxes

Information Returns

Checklist of Tax-Related Corporate Resolutions

Index

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