Tax Savvy for Small Business

by Frederick W. Daily, Jeffrey A Quinn

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 entertainment 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 explains the latest tax breaks and IRS rules and forms.

Includes the top business deductions--the best ones to take and how to claim them.

All the information in the book remains up-to-date for the 2017 tax year. The changes brought about by the Tax Cuts and Jobs Act all take effect in 2018, except for an increase in bonus depreciation which took effect September 27, 2017. Anyone who purchases the book has access to an update page on the Nolo website specific to this book which explains the 2017 bonus depreciation change and summarizes how the new tax law affects small business owners' taxes for 2018 and later. A new edition of the book, completely updated for the new tax law, will be published August 1, 2018.

Genres: Business, Finance, Nonfiction, Money, Taxation

353 pages, Paperback

First published January 1, 1995

Reviews

[Paul LaFontaine · Rating 5 out of 5]

A small business owner that does not understand the tax code is giving away a major advantage of being in business in the first place. Being smart on tax deductions and structure allows a business owner to legally, and assertively, put money back in her own pockets.

This is a great book. The author breaks down the topics in bite sized chunks and provides funny, memorable examples. This book will stay downloaded for me and be a constant go to as I continue to learn how to use my growing tax knowledge to structure for success.

Highly recommend.

[Shhhh... Books · Rating 4 out of 5]

I read this to help out with our taxes and my husband's small business. It was helpful - not a how-to, in most cases, but a guide surveying all the major issues so you can figure out what questions to ask and go deeper.

[Penelope · Rating 4 out of 5]

It answered every question I had and provided excellent additional references to check out.

[Jeb Hunt · Rating 5 out of 5]

Thorough, well-written, and easy to understand. Highly recommend for anyone looking to gain a basic understanding of business taxes.

[Dustin · Rating 5 out of 5]

Fantastic well of information. Reading it is only a joy in the fact that every word you read will save your company money... not because it's actually entertaining. I'm guessing that is why you see some 3-star reviews. I recommend this to anyone!

[Justin Lakey · Rating 4 out of 5]

Seemed useful to me. Real test will start soon when I do my taxes. I didn't read the whole book, just the parts that pertained to a LLC, like 2/3 of it. That was a nice idea to have separate chapters for different types of companies.

[Annie]

CYA: documentation!

[Alix · Rating 5 out of 5]

Absolutely the most clearly written book on taxes for small business. Even my accountant was impressed with my knowledge:)