Deduct It! Lower Your Small Business Taxes (Paperback)

by Stephen Fishman Attorney (Author)
Key Phrases: other retirement plans, revenue rulings, net operating losses, United States, Social Security, Stephen Fishman (more...)

Editorial Reviews

Review
"Delves deeply into the complex thicket of available deductions, with real-life examples on deducting everything from start-up expenses to car and travel expenses and the costs of benefits." -- Accounting Today

"For more information on how to handle inventory and write off the cost of goods, see Deduct It! Lower Your Small Business Taxes." -- San Francisco Chronicle

"Outlines the many deductions available to small businesses -- in plain English." -- National Federation of Independent Business

Review
"Delves deeply into the complex thicket of available deductions, with real-life examples on deducting everything from start-up expenses to car and travel expenses and the costs of benefits." --This text refers to the Paperback edition.

See all Editorial Reviews

Product Details

• Paperback: 496 pages
• Publisher: NOLO; 4th edition (December 21, 2007)
• Language: English
• ISBN-10: 1413307191
• ISBN-13: 978-1413307191
• Product Dimensions: 8.9 x 6.9 x 1 inches
• Shipping Weight: 1.7 pounds
• Average Customer Review: 4.7 out of 5 stars See all reviews (20 customer reviews)
• Amazon.com Sales Rank: #317,306 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

40 of 43 people found the following review helpful:

5.0 out of 5 stars Excellent Tips, July 22, 2005

By	Carmen Matthews "The Serene Samurai" (San Diego, California) - See all my reviews (REAL NAME)

This review is from: Deduct It!: Lower Your Small Business Taxes (Paperback)

At first glance, I thought, "Okay. It's a textbook." Yet, as I read this book it became a walk through finding what I wanted - excellent tips on small business deductions.

Mr. Fishman has managed to convert tax law and accounting into an easy to follow source for anyone who has or plans to have a small business.

And there were many sections that surprized me.

One example was "The basic rule is that, no matter what month and day of the year you buy an asset, you treat it as being placed in service on July 1 -the midpoint of the year. This means that you get one-half year of depreciation for the first year that you own an asset."

Another great part in this book is that he identifies excellent details about the difference between deductions for the homebased small business deductions that are local travel (within your county), versus travel that is outside of your area.

Some of the well-placed, noteworthy websites in this this book are:

Kelly Blue Book www.kbb.com
Edmunds www.edmunds.com
NADA Guides www.nadaguides.com

Tax websites:
www.unclefed.com
www.taxguru.net

30 of 33 people found the following review helpful:

5.0 out of 5 stars Explaining the Rules, Both Written and Understood, March 2, 2006

By	John Matlock "Gunny" (Winnemucca, NV) - See all my reviews (REAL NAME)

This review is from: Deduct It! Lower Your Small Business Taxes, Second Edition (Paperback)

The income tax laws of the United States clearly allow you do deduct business expenses. But from this basic rule has come an incredibly complex set of subsidiary rules that further define what are legitimate deductions and what are not allowed.

The strength of this book is that it explains these rather complex (arcane even) IRS rules in plain common sense language that the average businessman can follow. And further it gives hints and tips that are based on what is known about how the IRS really operates - these are the real rules instead of the written rules. For instance -- Filing by mail reduces your chance of being audited. Why, because the IRS doesn't transcribe all of the information on the printed return to electronic form where it can be analyzed by computer. If you file electronically, everything you enter is available for the computer to analyze.

You'll never know if information like this kept you from being audited, but it's certainly information that you'd want to know. In this book there is a wealth of such information that can't help but be of use as you prepare your tax forms.

12 of 12 people found the following review helpful:

5.0 out of 5 stars Great book!, September 25, 2007

By	W. Williams (Woodbury, MN) - See all my reviews (REAL NAME)

This review is from: Deduct It! Lower Your Small Business Taxes (Paperback)

Great book. Just one comment. A lot of the text in this book is identical to the text in Tax Deductions for Professionals. You don't need both books; choose one.