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Tax Savvy for Small Business |  | Author: Frederick Daily
Publisher: NOLO
Category: Book
List Price: $39.99
Buy New: $25.01
as of 3/14/2010 10:32 MST details
You Save: $14.98 (37%)
New (21) Used (6) from $25.01
Seller: ---superbookdeals
Rating:  21 reviews
Sales Rank: 19965
Media: Paperback
Edition: 13
Pages: 380
Number Of Items: 1
Shipping Weight (lbs): 2.1
Dimensions (in): 10.5 x 8.1 x 0.9
ISBN: 1413310648
Dewey Decimal Number: 343.7305268
EAN: 9781413310641
ASIN: 1413310648
Publication Date: December 6, 2009
Availability: Usually ships in 1-2 business days
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| Features:
| • | ISBN13: 9781413310641 | | • | Condition: NEW | | • | Notes: Brand New from Publisher. No Remainder Mark. |
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Product Description
The essential tax-strategy book for entrepreneurs who call themselves "boss."
Named a "Best Tax Book" by Entrepreneur magazine
Develop the best tax plan for your small business, learn the ins and outs of the tax code and create comprehensive strategies to get back the most from the IRS. Understanding the tax system 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.
Tax Savvy for Small Business provides essential information that will free up your time and money for what counts -- running your business effectively. It explains how to:
deduct current and capitalized expenses
write off up to $108,000 of long-term assets each year
compare different business structures
take advantage of fringe benefits
keep records that will head off trouble with the IRS
get tax breaks from business losses
deal with payroll taxes
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
The 13th edition of Tax Savvy for Small Business is completely updated and provides the latest tax breaks, rules, forms and publications. You'll also find a list of the top 25 business deductions - the best deductions to take and how to claim them, trouble-free. (20080315)
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| Customer Reviews:
Showing reviews 1-5 of 21
 Written in plain terms, but a bit topical March 12, 2010
JujubeMBA (USA)
This book is well laid out and written in understandable language. It outlines the different types of small businesses, types of LLCs, and some of the benefits and detriments to each. However, I found that the information was very topical--it doesn't seem to go much beyond what you'll find in a basic economics class in business school. I had hoped to find more in-depth discussion about taxes for very small (1-person) businesses, but the book seems more skewed toward larger small businesses. I was hoping to find more information regarding pass-through tax and how it works, but it was only mentioned in a sideways manner in regard to LLC's. I didn't really find the book useful, as this was what I was looking for.
 Great book to have around March 11, 2010
Dr. W. C. Wu (albuquerque, nm United States)
this book covers many topics for a person that wants to educate him/herself before consulting with a tax advisor. The information is very easy to understand, although some are in-correct or outdated (contribution limit for HSA, for example, they are still using the old formula).
Other than that, the book is a good reference to have. It gives me ideas that I can bring to my CPA and incorporate into our overall tax strategy.
 Good resource March 2, 2010
N. Berry (USA)
1 out of 1 found this review helpful
NOLO always does a great job with their reference books and this is no different. While it's not the type of book that you could easily sit down and read straight through (unless you really like accounting), it reads so easily that you could. I've already gone to it for reference a handful of times in the month that I have had it.
For many, this book may pay for itself very quickly in using it instead of calling your CPA. I already have an S corporation formed, and am busy running the business, so having a handy resource like this is great.
Excellent Resource February 23, 2010
thorvald (USA)
I've run a small, solo proprietorship business for quite a few years. Profits have steadily grown... until this last year when the poor economy put some of my best clients out of business and, as a result, decreased my business income. This book answered many of my questions about this year of showing a probable loss on my taxes in a clean, easy-to-follow format. The material, and the way it was organized and written, was absolutely first rate. I had no problem getting directly to answers and information about specific issues, but the writing and format is such that someone new to the small business world would find it not only a useful, but very readable book to go through cover-to-cover (which I would recommend to anyone starting a small business).
I was impressed and pleased by the:
Organization--clear and concise with a good layout order of issues
Writing--very easy to read without being simplistic, clear information without ponderous text
Layout--Tips, cautions, and asides are very clearly distinguished, easy to spot the specific item on a page you may be looking for.
Very highly recommended, not just during tax season but year around as a resource to operate your business, how and why to keep records and receipts. Excellent resource.
Powerful Explanation of Section 179 February 21, 2010
Citizen John (Washington, DC)
1 out of 1 found this review helpful
Tax attorney Frederick Daily explained many small business tax subjects extremely well in this book, and in particular I was impressed with his explanation of Section 179.
Section 179 allows the company to deduct up to 250K (for 2008 and 2009) of depreciable property (although not buildings) in the year the equipment is placed in service. The business has to use the 179 election in the year of purchase or it waives the right to do so. This means that computers, office furniture and some vehicles get to be completely written off in the year of purchase.
I've found that my tax clients (I'm a CPA) were usually unaware of Section 179. Unfortunately, by the time a lot of people have read Tax Savvy for Small Business, it may be too late to take full advantage. The maximum deduction will drop to 125K for 2010.
I've provided this one salient example to try to sound the trumpet that this is a book some people will want to have. Besides, this book makes you feel good because you can see a sliver of light providing you have income with which to offset.
Showing reviews 1-5 of 21
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