Deduct It! : Lower Your Small Business Taxes

by Stephen Fishman

The fastest way for any small business to make more money is to pay less to the IRS. Recent changes in the tax law make this easier to do than ever before - yet many entrepreneurs continue to pay more than is necessary. Let Deduct It! show you how to maximize the business deductions you're entitled to --quickly, easily and legally. Comprehensive -- yet easy to read with many interesting and relevant examples -- the book is organized into practical, easy-to-use categories featuring common deductions, *start-up expenses
*operating expenses
*health deductions
*vehicles
*entertainment
*meals
*travel
*home offices
*inventory
*equipment
*and many more Deduct It! is indispensable to your venture, whether you're just starting out or have been established for years. The book also provides basic information on how different business structures are taxed and how tax deductions work.

Genres: Business, Finance, Taxation, Nonfiction, Reference, Money

250 pages, Paperback

First published May 1, 2004

Reviews

[Sjors · Rating 4 out of 5]

I read the 15th Edition (2018).

Good overview of the relevant regulations. After this, you will be ready to consume the raw IRS guidance on the required forms and schedules. Book could be improved by incorporating IRS Form 1040 Schedule C and discussing, by expense category, what items can be deducted. Where do I deduct my Zoom subscription? Can I deduct my Nespresso machine?

Death and Taxes, amirite?

[Conrad · Rating 5 out of 5]

Well written and brilliantly edited, like the other Nolo books I have read. If all books were so well edited, everyone would return to reading. And as a small business owner, I found it full of useful information.

[Christina · Rating 4 out of 5]

3.5 stars. Skimmed through this helpful and practical guide. Well-laid out and content is accessible. This answered almost all the questions I had about taxes and self-employment. A good reference.

[Bob · Rating 4 out of 5]

This was a very helpful book.

[Sarah Schwab · Rating 4 out of 5]

This book gave me a handle on what to look out for to manage my small business deductions. Practice will make perfect.

[Rachel Blom · Rating 4 out of 5]

It's not a fun read, obviously, but it is a good one. Deduct it! makes taxes for small business understandable and gives plenty of info to fill out your tax returns and prepare for next season so you can maximize your profits.

The only downside is that this book contained almost the same info as Tax Deductions for Home Businesses. Don't understand why they publish two different titles with basically the same info...Hence the one star deduction.

[Eric · Rating 1 out of 5]

This book runs through a lot of tax law related to running a small business and different things that your business can do to reduce its tax burden.

[Cara]

Just skimmed, but this book has cleared up a lot of questions I had about the details of how to deduct business trips and a few other things like that. Good stuff.

[Elizabeth Peterson · Rating 3 out of 5]

Need to read the current version. Good info for a cursory understanding of how business deductions work with taxes, but not reliable otherwise. (I had the 2010 version from the library).