Tax Strategies for the Small Business Owner: Reduce Your Taxes and
Fatten Your Profits will help the small business owner increase profits
while feeling more comfortable dealing with taxes. It begins by looking
at the often overlooked critical decision small business owners face
when they start a business: the choice of business entity. The book then
examines all the deductions that a business owner can take legally to
reduce taxes. It also provides advice business owners need to make good
tax-related decisions: Should I lease or buy? Should I hire an employee
or outsource the task? How much will buying a building reduce my taxes
and for how long?
Many people freeze up when they are forced to prepare or even think
about taxes. Some receive a notice from the IRS and put it aside:
They're too scared to open it! Yet taxes for the most part follow common
sense rules. You just need to know what they are and how they affect
your decisions. In this book, readers will learn about the different
business entities, the different taxes you must deal with (primarily
income taxes), documentation procedures, how to work with a tax
professional, how to handle an audit, and, in general, how to use the
U.S. Tax Code to your advantage. Among other things, readers learn to
take full advantage of tax benefits and avoid potholes hidden in things
like:
- Startup and ongoing expenses
- Cost of goods sold
- Depreciation
- Payroll
- Retirement plans
In short, Tax Strategies for the Small Business Owner will not only
help you relax when you deal with your taxes--it'll show you how to use
tax law to your financial benefit.
