
- 432 pages
- English
- PDF
- Available on iOS & Android
About this book
Pay less to the IRS
Don't miss out on the many valuable deductions you can claim! Now, more than ever, understanding how taxes work is essential for home business owners.
Home Business Tax Deductions is for anyone who has a home business or is thinking of starting one and wants to know how to structure their business and take advantage of all available tax deductions. This book explains to readers how to maximize their business deductions—quickly, easily, and legally.
Whether you're just starting your home business or it's well established, Home Business Tax Deductions is indispensable to your financial success. It covers deductions for start-up and operating expenses, travel and meals, home offices, equipment, vehicles, medical expenses, and more. It also discusses how to keep accurate, thorough records and provides everything you need to know about the 20% pass-through deduction. In addition, this edition has an updated chapter explaining how to get paid and pay others with Bitcoin or another cryptocurrency, as well as information about trading in crypto as a business.
Home Business Tax Deductions is organized into practical, easy-to-understand categories of the most commonly-used home business deductions. This reader-friendly guide includes interesting and relevant examples of how deductions work in real life.
If you have a home business, this book will pay for itself many times over.
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Information
Table of contents
- Cover
- Title Page
- Table of Contents
- Introduction
- 1. Some Tax Basics
- 2. Is Your Home Business Really a Business?
- 3. Getting Your Business Up and Running
- 4. Home Business Operating Expenses
- 5. Deducting Long-Term Assets
- 6. The Home Office Deduction
- 7. The Pass-Through Tax Deduction
- 8. Getting Around Town:Car and Local Travel Expenses8.
- 9. Leaving Town: Business Travel
- 10. Inventory
- 11. Hiring Help: Employees and Independent Contractors
- 12. What If You Get Sick? Deducting Medical Expenses
- 13. Deductions That Can Help You Retire
- 14. More Home Business Deductions
- 15. Using Cryptocurrency in Your Business
- 16. Record Keeping and Accounting
- 17. Businesses Owned by Spouses
- 18. Nine Tips for Avoiding an IRS Audit
- Index
- Book Registration