Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money [Paperback]

Frederick W. Daily (Author), Bethany K. Laurence (Editor)

Book Description

Series: Tax Savvy for Small Business | Publication Date: November 2004

Knowing the ins and outs of the tax code is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line -- and the IRS is always watching.

Fortunately, Tax Savvy for Small Business provides valuable strategies that will free up your time and money for what counts: running your business, and running it effectively. It explains how to:

*deduct current and capitalized expenses *write off long-term assets *write off up to $104,000 of long-term assets each year *compare the advantages of different legal structures *take advantage of fringe benefits *keep records that will head off trouble with the IRS *get tax breaks from business losses *pay payroll taxes on time *deduct home-office expenses *negotiate payment plans for late taxes *handle an audit *get IRS penalties and interest reduced *maximize retirement funds *use retirement funds as a tax break

Completely updated, the 8th edition of Tax Savvy for Small Business provides the latest tax breaks, rules, forms and publications. This edition also includes a brand new list of the Top 25 Business Deductions -- the best deductions to take and how to claim them.

An essential book for entrepreneurs, independent contractors, small-business owners and anyone else making money on their own -- get it today!

Editorial Reviews

Review

...Even if you use an accountant, pick up a copy of this book for further understanding and tax management. -- Small Business Opportunities

A completely invaluable guide... keep this on your bookshelf for future reference. Five stars (we love it). -- Inc. Magazine

This plain-English guide will show you how to make the most of your tax-deductions. -- BusinessWeek

From the Publisher

The acclaimed tax-strategy guide every entrepreneur needs --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 352 pages
• Publisher: NOLO; 8th edition (November 2004)
• Language: English
• ISBN-10: 1413300618
• ISBN-13: 978-1413300611
• Product Dimensions: 10.8 x 8.3 x 1 inches
• Shipping Weight: 2.8 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (33 customer reviews)
• Amazon Best Sellers Rank: #1,445,247 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 A book you must buy!, November 25, 2005

By 

Andrew Huynh (Los Angeles, CA) - See all my reviews
(REAL NAME)   

This review is from: Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money (Paperback)

I recommend this book to individuals who run a small business or plan to start a small business.

This is a great book that goes through some tax fundamentals that all small businesses should know. Fredrick Daily has a great talent with translating complicated tax issues into plain English. The book goes through fundamentals areas such as tax basics, deductions, C and S corporations, fringe benefits, and etc.

At the very least, this book has prompted a look back at how my small business' tax structure is set up.

For those who care to save time and money, this is the book for you.

22 of 25 people found the following review helpful:

5.0 out of 5 stars Excellent Planning Suggestions in a Clear & Concise Presentation, December 5, 2007

By 

William M. Burbank "Marty Burbank, Esq." (Orange County, California) - See all my reviews
(REAL NAME)   

This review is from: Tax Savvy for Small Business (Paperback)

As a tax attorney I find this book, a great resource. My practice is very specialized and when I need an overview of areas outside of my specialty, I find Frederick W. Daily's books to be a great first stop. Taxation of business entities (not my specialty)is arguably the most complex area of the Internal Revenue Code, This book makes these complex principals not only easy to understand, but offers invaluable tax strategies to save big tax $$$$. On more than one occasion I have loaned copies of this book to clients because it does a better job giving an overview of complex concepts in a clear and concise way.

Marty Burbank, Esq.
Estate Tax Planning & Asset Protection
[e-mail]

21 of 24 people found the following review helpful:

5.0 out of 5 stars Great Overview Book, March 16, 2005

By 

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

This review is from: Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money (Paperback)

Taxes related to a small business are complex and even a little bewildering if you haven't gotten into them before. But as this book says, they're not rocket science difficult.

Here in one book is a general introduction to the major business taxes that we all have to face. In addition there are comments based on experience such as: "Few people ever file form 5213 (Election to Postpone Determination that Activity is for Profit), and for good reason. It draws the IRS's attention and may invite an audit." This kind of advice is hard to find in real life, but here the author has enough experience in the area to make such statements.

Most of the book is on the standard kinds of accounting records you'll need to keep, the limits and philosophies that the IRS follows, etc.