The Learning Annex Presents Small Business Basics Your Complete Guide to a Better Bottom Line

by Weltman, Barbara

• ISBN13: 9780471714033
• ISBN10: 0471714038
• Edition: 8th
• Format: Paperback
• Copyright: 2005-05-19
• Publisher: Wiley

Summary

The Learning Annex Presents Small Business Basics If you're a small business owner, you probably dedicate the majority of your time to the day-to-day activities that keep your company up and running. After all, why should you have to worry about taxes or other financial issues when you can hire someone else to handle them? The answer is simple: you, not your accountant or financial advisor, run the business. And if you truly want to be successful, you need to understand how your actions in business today can affect your bottom line tomorrow. If you want to make more tax-efficient financial decisions for your business, The Learning Annex Presents Small Business Basics can show you how. This accessible guide provides useful and authoritative advice that will help you save time and money throughout the year. Topics discussed include: Organizing your business-from S Corporations and C Corporations to Sole Proprietorships and Limited Liability Companies Income and losses-from business operations to the sale of business property Business deductions and credits-from home office deductions and advertising expenses to rent and retirement plans As a small business owner, each decision you make is important. With The Learning Annex Presents Small Business Basics as your guide, you'll quickly discover how to make tax-savvy decisions that will improve your overall business.

Author Biography

BARBARA WELTMAN, an attorney, is a nationally recognized expert in taxation for small businesses. She has written extensively on tax, finance, and estate planning. Barbara is an experienced writer and is quoted regularly in major publications, including the New York Times and Bottom Line/Personal. She is also frequently featured on CNN and CNBC. Visit her Web site at www.bwideas.com and subscribe to her newsletter.

THE LEARNING ANNEX is the largest alternative adult-education organization in the United States. It offers short, inexpensive courses on personal growth, business and career opportunities, showbiz and media, health and healing, sports and fitness, spirituality, relationships, and technology, among many other subjects.

Table of Contents

Preface.

Introduction.

PART I: ORGANIZATION.

1. Business Organization.

2. Tax Year and Accounting Methods.

3. Recordkeeping for Business Income and Deductions.

PART II: BUSINESS INCOME AND LOSSES.

4. Income or Loss from Business Operations.

5. Capital Gains and Losses.

6. Gains and Losses from Sales of Business Property.

PART III: BUSINESS DEDUCTIONS AND CREDITS.

7. Employee Compensation: Salary, Wages, and Employee Benefits.

8. Travel and Entertainment Expenses.

9. Car and Truck Expense.

10. Repairs and Maintenance.

11. Bad Debts.

12. Rents.

13. Taxes and Interest.

14. First-Year Expensing and Depreciation, Amortization, and Depletion.

15. Advertising Expenses.

16. Retirement Plans.

17. Casualty and Theft Losses.

18. Home Office Deductions.

19. Medical Coverage.

20. Deductions for Farmers.

21. miscellaneous Business Deductions.

22. Deductions for Alternative Minimum Tax.

23. Roundup of Tax Credits.

Index.