J.K. Lasser's^TM Small Business Taxes: Your Complete Guide to a Better Bottom Line, 6th Edition

by Barbara Weltman ( ; )

• ISBN13: 9780471629153
• ISBN10: 0471629154
• Edition: 6th
• Format: eBook
• Copyright: 2004-04-01
• Publisher: WILEY

Summary

The Most Trusted Name in Tax Helps Small Business Owners Maximize Their Bottom LineIf you're a small business owner, you probably have an idea of how taxes can affect your business. But unless you're a tax expert, you might not realize all the ways a small business can benefit from both new and current tax laws. Let small business and tax expert Barbara Weltman show you-as a small business owner-how to maximize deductions and reduce your payments to the minimum.J.K. Lasser's Small Business Taxes, Sixth Edition gives you a complete rundown of small business tax planning in plain English, helping you take advantage of every tax break you're entitled to. Focusing on strategies that help you use deductions, credits, and other benefits to save during tax time, this comprehensive guide is all you need to keep up with Uncle Sam. The invaluable advice in this book will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow.In this volume, you'll find: Detailed coverage of new tax laws and IRS rules Comprehensive information on each deductible expense, including dollar limits and record-keeping requirements Clear instructions on where to report income and claim deductions on your tax forms Sample forms and checklists to help you prepare for tax time Planning strategies that can help you run a tax-smart business all year long New in this edition: help with employment taxes, state taxes, and a guide to information returns you may need to file

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 Expenses

Repairs and Maintenance

Bad Debts

Rents

Taxes and Interest

First-Year Expensing and Depreciation, Amortization, and Depletion

Advertising Expenses

Retirement Plans

Casualty and Theft Losses

Home Office Deductions

Medical Coverage

Deductions for Farmers

Miscellaneous Business Deductions

Deductions for Alternative Minimum Tax

Roundup of Tax Credits

Tax Planning for Your Small Business

Income and Deduction Strategies

Other Taxes

Online Filing and Information

Appendix: Information Returns

Index

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