Small Time Business Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes & Stay Out of Trouble (Small Time Operator: How to Start ... Keep Yourbooks, Pay Your Taxes, & Stay Ou) [Paperback]

Bernard B. Kamoroff (Author)

Book Description

ISBN-10: 0917510283 | ISBN-13: 978-0917510281 | Publication Date: December 7, 2007 | Edition: 10th Edition

Be your own boss. Here is the help you need to take control of your life and be a success, on your own terms.

Product Details

• Paperback: 232 pages
• Publisher: Bell Springs Publishing; 10th Edition edition (December 7, 2007)
• Language: English
• ISBN-10: 0917510283
• ISBN-13: 978-0917510281
• Product Dimensions: 10.9 x 8.4 x 0.6 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #310,310 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

12 of 12 people found the following review helpful:

5.0 out of 5 stars This book is a goldmine of information for the wanta-be entrepreneur to use when researching and drafting his or her biz plan., May 10, 2008

By 

Jeff Lippincott "JLIPPIN" (Princeton, NJ USA) - See all my reviews
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This review is from: Small Time Business Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes & Stay Out of Trouble (Small Time Operator: How to Start ... Keep Yourbooks, Pay Your Taxes, & Stay Ou) (Paperback)

I loved this book. It's been around for a while. So it should be well outlined and well written. This 2008 edition is the 32nd version and the 63rd printing. The book is 8.5 X 11 and the text is arranged in two columns on each page. There are some illustrations and pictures interspersed through the book to make it more visually appealing and informative. There are 7 sections and 44 "chapters" as follows:

I. Getting started (1-8)
II. Bookkeeping (9-16)
III. Growing up (17-21)
IV. Taxes (22-29)
V. Home business (30)
VI. Your business (31-43)
VII. The ledgers (44)

1. Getting started: Basics
2. Business location
3. Financing
4. Legal structure
5. Choosing a business name
6. Licenses & permits
7. Insurance
8. The Business Plan
9. Warming up to an unpopular subject
10. Business bank accounts
11. Bookkeeping simplified
12. Recording income
13. Credit sales
14. Recording expenditures
15. Calculators and adding machines
16. Financial management
17. Business growth
18. Hiring help
19. Partnerships
20. You, Inc.
21. Limited Liability Company (LLC)
22. Business expenses
23. Self-employment tax
24. Retirement deductions
25. Other small business tax issues
26. The Internal Revenue Service
27. Federal information returns
28. Excise taxes
29. State and local taxes
30. Home business
31. How to balance your bank account
32. Balance sheets
33. Professional help
34. Husband and wife businesses
35. Multiple businesses (more than one business)
36. Import and export businesses
37. Buying a business
38. Freelancers, professionals and consultants
39. Legal and management
40. The Internet
41. Managing and marketing your business
42. The future of small business
43. The annual update sheet
44. The ledgers

I thought the coverage for Limited Liability Companies (LLCs) was weak. There are single member and multi-member LLCs and they can be taxed as either a sole proprietorship, partnership, or corporation depending on their membership and tax elections. And I would not have promoted S corps to the extent the author does in this book. I also thought Chapter 40 regarding the Internet could have been better since it only covered a few pages of the book, if that. And Chapter 41on marketing was lame, too.

The author is a CPA who has had his own CPA firm. As a result, I didn't really expect the Internet and marketing chapters to be complete and very informative. But that doesn't stop me from complaining! All in all, except for the above complaints, this is a really good book for the wanta-be entrepreneur to get hold of and study while they are turning their business idea into a business plan. 5 stars!

PS. You can figure out how to market your small business by studying the marketing techniques of your new business' competition. There's no need to reinvent the wheel. Just go with what is proven to work. And maybe tweak the marketing system your competitors use. If you do this, then you will agree with me that this book is a goldmine of information.

11 of 11 people found the following review helpful:

4.0 out of 5 stars For prospective SMALL business owners, July 7, 2008

By 

R. Holt - See all my reviews
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This review is from: Small Time Business Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes & Stay Out of Trouble (Small Time Operator: How to Start ... Keep Yourbooks, Pay Your Taxes, & Stay Ou) (Paperback)

I bought an earlier edition of this book after starting my first business 24 years ago. Unfortunately, I was too far along and made many mistakes which could have been corrected had I read Kamoroff's book before starting the business. The business survived but I would have done much better in the early going had I learned more before doing.

I am about to restart my business life and learned my lesson. I checked out this book at the local library and found that, despite the many changes in the business environment today, he has kept on top of most of the changes and this book is still an excellent guide.

Two caveats:

1. As a previous reviewer noted, his advice on business structure is debatable and perhaps a bit weak and his advice on internet business is definitely not as thorough as needed for someone who intends to make internet presence a major part of their business.

2. This book is orientated toward those who are starting small in a true sense of the word -- minimal background, funding and personnel. In fact, Kamoroff questions the need for major business growth for many small entrepreneurs -- and may be right in doing so. If you have the background and capital to start on a larger scale (though still officially a "Small Business"), much in this book is not for you and you will need other resources too.

9 of 9 people found the following review helpful:

5.0 out of 5 stars Classic in its Field, July 6, 2008

By 

Randy R. "WCG Comics" (Los Angeles, CA) - See all my reviews

This review is from: Small Time Business Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes & Stay Out of Trouble (Small Time Operator: How to Start ... Keep Yourbooks, Pay Your Taxes, & Stay Ou) (Paperback)

I bought an edition of this book in the early 1990s when I began my own little comic-book company. I found it on my bookshelf this evening and after leafing through it searched for it out of curiosity on Amazon and was amazed to find an updated edition for 2008. (The dated section on computers was amusing considering how far computers have come since then!)

This is an outstanding book, and I was delighted to see the price remains incredibly affordable. Anyone wondering about the nuts of bolts of starting and running a small business, regardless of the field, will find this a great primer. Even after I launched my business, this book remained an important resource and reference for me for many years. As you grow or require more detailed guidance, esp. connected to your field, you'll likely eventually explore other books and resources online. But this book is a great introduction, very entertaining, very "nuts and bolts," and something you'll continue to go back to as you go through the process of starting and running a business.