Customer Reviews

Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money 9th Edition

5 star:		(1)
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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, 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.

I'd rate this as an excellent and informative book, BUT if I really had a problem with those guys, I'd want an attorney to handle it.

I bought and read this book and there is lots of useful information here but I wish that the authors had gone further.
May I also suggest Untapped Wealth Discovered by Jeff Marquis and Kerry Harrison as a good book to go along with this one.
Untapped Wealth Discovered is good reference material and readers would do well to buy and read it after reading Daily's and Laurence's book.

Nice complement when trying to make sense of the tax liabilities of running a small business.