
- 464 pages
- English
- PDF
- Available on iOS & Android
About this book
Reduce Taxes for Your Small Business
Small business owners can qualify for many tax deductions and credits, saving them lots of money. This edition covers all you need to know under new tax laws to ensure you take advantage of all the tax deductions and credits to which you're entitled. Deduct It! shows you how to maximize your business deductions—quickly, easily, and legally.
This edition explains what small business owners need to know about deductions, including the home office deduction and the 20% pass-through deduction. It also explains how to keep proper tax records. You'll also learn the rules for deducting start-up and operating expenses, net operating losses, state income taxes with a pass-through entity, cryptocurrency given to a charity, and more.
Deduct It! is organized into practical, easy-to-understand categories of the most commonly-used business deductions. It includes interesting and relevant examples so readers can see how the deductions work and the context in which they come up.
This book provides the comprehensive, up-to-date tax law information that small business owners need to save money on taxes. Understanding taxes is essential for all small business owners now more than ever.
Easy to read and full of real-world examples, Deduct It! will pay for itself many times over.
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Information
Table of contents
- Cover
- Title Page
- Table of Contents
- Introduction
- 1. Tax Deduction Basics
- 2. Are You Really in Business?
- 3. Start-Up Expenses
- 4. Business Operating Expenses
- 5. Deducting Long-Term Assets
- 6. Inventory
- 7. Office Expenses
- 8. Car and Local Travel Expenses
- 9. Business Travel
- 10. The Pass-Through Tax Deduction
- 11. Hiring Workers
- 12. Retirement Deductions
- 13. Medical Expenses
- 14. Additional Deductions
- 15. Using Cryptocurrency in Your Business
- 16. Record Keeping and Accounting
- 17. Staying Out of Trouble With the IRS
- Index
- Book Registration