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Technology Information:
Tax Savvy for Small Business
Product Type: Book
Product Price: $39.99
Manufacturer: NOLO
Purchase
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:
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)
Reviews
Rating: 5 / 5
Date: 2010-07-29
Summary: "Great Guidebook"
I bought an earlier edition, about five years ago, when I was going into business for myself. It has been a great guide. I still refer to it occasionally. The book provides much of the basics for business planning (of which taxation is a major component). The knowledge gained will help one become grounded so that he/she can learn more from other business persons or to better interact with professionals such as accountants,financial advisors, lenders, etc. The information will help one to be tax savvy, as the title implies, by knowing the tax implications of business decisions, from day-to-day purchases to the form of the business, and will help one steer-clear of the IRS.
My recent purchase was as a gift to my brother-in-law who recently lost his job and is "re-tooling" for a small business start.
The knowledge to be gained is worth the price. And of course, the cost is tax-deductible if you're already in business or will start before the end of the tax-year. Keep your receipt!
Rating: 4 / 5
Date: 2010-06-22
Summary: "A good overview of taxes for small businesses"
If you own a small business and either want to manage your taxes yourself, or don't want to leave decisions fully in the hands of your accountant, this is a good book for understanding the basics. The downside is that tax information changes quickly, so the book can become outdated quickly. Luckily, Nolo takes care of that by updating it every year.
The guide is writteen by a tax attorney and cover the basics, business structure, thinking small, fringe benefits, buying or selling a businesses and dealing with the IRS. Among the concepts it explains and helps owners think through are how to keep records, how to classify workers, the tax implications of various business structures, how to handle fringe benefits, how to handle tax aspects related to buying or selling a business, what to do when you can't pay your taxes and how to handle an audit.
A very useful reference guide.
Rating: 4 / 5
Date: 2010-04-22
Summary: "Excellent overview for very small businesses"
The Nolo Series produces excellent guides to various legal issues. This volume is a must have for anyone considering starting a small business. It is written by Frederick W. Daily, a tax attorney, who writes well and has some important insights into every important tax issue facing a small business. If you have a very small business, that is, you do some selling on eBay, or free-lance writing, or something similar and you have no employees, then this book may well be all you need. Combined with good tax software you should find that this book answers all of your questions about entertainment expenses, setting up an SEP retirement account for yourself, and so forth. On the other hand, if you are actually opening a bricks-and-mortar business and intend to hire several employees, then this book only gives you an overview of the questions you need to think about. A few pages on collecting and reporting payroll taxes or setting up an employee benefits plan are just not enough in my view. In that case, you need to pay for some professional advice or bring in an experienced partner.
Rating: 4 / 5
Date: 2010-04-19
Summary: "Buy this book even if you have an accountant!"
I just received the book I wish I'd had when I first went into business. The language is clear, the examples are helpful, and I can see it as an invaluable resource for any small business owner. It even shows what the tax forms look like, eliminating the fear of the unknown! I intend to recommend it to many of my small business clients, just as I recommend they each hire a CPA and a lawyer to help them with their businesses.
Rating: 5 / 5
Date: 2010-03-18
Summary: "Great introduction on tax matters for small business"
This book tries to cover all the possible tax matters for a small business choosing a business entity, deduction in running the business, all way to selling and buying a business. It is organized in a very concise and easy to read manner. If you know very little about starting a new business or thinking about starting your own business, this is a great book as an introduction. But since this book tries to cover all the aspects of it, it cannot be possibly complete in details. You cans start with this book and go for other books for specific topics. For example, pick up a book specifically for business entity and another book for tax deduction