Tax Smarts for Small Business can relieve some of the stress associated with the dreaded tax word, and answer all your questions. Its easy-to-understand format and pointed examples break down the mystery of the Internal Revenue Tax Code and give you an accessible guide for understanding the many tax rules facing small businesses.

Despite popular opinion, it is possible to run a profitable, honest business while minimizing taxes and staying out of legal trouble. Tax Savvy for Small Business helps readers do just that, detailing year-round tax-saving strategies for: -- claiming all legitimate deductions -- maximizing fringe benefits -- keeping accurate records -- documenting expenses -- surviving an audit The 5th edition provides the most current IRS rules, the latest tax codes and a new chapter of "Frequently Asked Questions."

Create a business tax strategy that will save you time, energy, and money Getting your tax matters on track will free up your time to do what really counts: run a profitable business. Tax Savvy for Small Business shows you how to: deduct operating expenses deduct travel, vehicle, and meal expenses take advantage of tax credits write off long-term assets compare business structures keep solid business records, and handle an IRS audit. This completely updated edition covers changes in tax rates, deductions, and credits, including the commercial clean vehicle tax credits under the Inflation Reduction Act of 2022. Tax Savvy for Small Business is the up-to-date resource you need to maximize your deductions and boost your business’s bottom line.

Run a profitable business while minimizing taxes.

Create a business tax strategy that will save you time, energy, and money Getting your tax matters on track will free up your time to do what really counts: run a profitable business. Tax Savvy for Small Business shows you how to: deduct operating expenses deduct travel, vehicle, and meal expenses take advantage of tax credits write off long-term assets compare business structures keep solid business records, and handle an IRS audit. This completely updated edition of Tax Savvy for Small Business covers new tax rules under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and how those rules affect small business owners. Completely updated to cover the new Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Embark on a Journey to Financial Empowerment for Your Solo Venture Delve into the realm of fiscal mastery with "Tax-Savvy Solo: Smart Strategies for Solo Entrepreneurs", the indispensable guide for independent business owners eager to navigate the complexities of taxes with confidence and cunning. With a deft blend of thorough explanations and actionable advice, this book is your unmissable companion on the road to tax efficiency and business success. From the foundational elements of the tax system to advanced strategies for seasoned entrepreneurs, every chapter is tailored to elevate your financial acumen. Learn how to choose the most beneficial structure for your enterprise, whether it's an LLC, S Corp, or other entity. Grasp the essentials of self-employment tax and master the rhythm of estimated tax payments to ensure compliance without overburdening your cash flow. Efficient record-keeping is your ally in financial clarity, and this guide illuminates the path to setting up systems that save time and headaches. Unlock the potential of every deduction with insights into home office requirements, retirement savings vehicles like SEP-IRAs and Solo 401(k) plans, and the intricacies of health insurance deductions. Your entrepreneurial journey will be fortified with wisdom on making the most of credits to reduce your tax liability. When it comes to strategic tax planning, timing is everything. Learn how to align your income and deductions for the best possible tax outcome, and get ahead with year-end moves that can minimize your obligations. Whether tackling sales tax compliance or preparing for potential audits, you'll uncover tips to keep you firmly on the right side of the IRS. Don't let tax law changes catch you off guard. With "Tax-Savvy Solo", stay informed and adjust your strategies to adapt to legislative shifts. And when the time arrives to consider retirement or selling your business, you'll be equipped with only the most tax-efficient exit strategies. Beyond the solo entrepreneur, this comprehensive resource extends a helping hand in deciding when professional help is warranted. With a keen eye on cost-benefit analysis, find the best tax professionals to support your business's unique needs. Ensure your financial future is bright with "Tax-Savvy Solo: Smart Strategies for Solo Entrepreneurs"--your ultimate guide to keeping more of your hard-earned money where it belongs: in your pocket.

The tax facts and strategies that every small business owner needs to know Written in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year. Focusing on best business practices and strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow. Includes detailed coverage of the newest tax laws and IRS rules Reveals strategies that can help you run a tax-smart business all year long Contains comprehensive information on each deductible expense, including dollar limits and record-keeping requirements Offers clear instructions on where to report income and claim deductions on your tax forms Online supplement to update developments Other titles by Weltman: J.K. Lasser's 1001 Deductions & Tax Breaks 2011 and J.K. Lasser's New Tax Laws Simplified 2011 While many small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser's Small Business Taxes 2011, you'll quickly discover how.