This highly acclaimed tax guide by home-business expert Barbara Brabec -- available since 1995 in one format or another -- is directed to U.S. taxpayers who work AT or FROM home base and file a Schedule C form. Now updated and expanded for tax year 2013, it includes the latest tax law changes related to working at home, but mostly this book focuses on the timeless and savvy tax strategies that many home-business owners and other self-employed ...
This highly acclaimed tax guide by home-business expert Barbara Brabec -- available since 1995 in one format or another -- is directed to U.S. taxpayers who work AT or FROM home base and file a Schedule C form. Now updated and expanded for tax year 2013, it includes the latest tax law changes related to working at home, but mostly this book focuses on the timeless and savvy tax strategies that many home-business owners and other self-employed individuals have historically overlooked or simply don’t understand.
Self-employed for most of her adult life, the author has used several of these strategies in her own home business to legally shelter many thousands of dollars of business income from self-employment taxes (which automatically lowers one's federal and state taxes as well).
These proven tax strategies were gathered by the author over a period of 35 years, both from first-hand experience and by communicating with home-business professionals in her home business network. Several tax, accounting, and legal experts have also contributed invaluable tips and legal advice, particularly in the areas of hiring one’s spouse or children, how to avoid or get out of a tricky independent contractor situation, and how to set up a medical reimbursement plan that will cover 100 percent of a family's unreimbursed medical bills.
In a nutshell, while explaining dry tax information in a fresh, clear, and sometimes amusing way, Barbara Brabec offers a wealth of Schedule C-related information your accountant or tax preparer will NEVER volunteer -- and worse, may not even know. In fact, this book is likely to answer questions you didn't even know you had. It features a list of 76 Schedule C deductions with a detailed discussion of twenty of the most important ones, and the Home Office Deduction is explained in such a way that no one entitled to it will be fearful of taking it. Thirty SPECIAL TIPS enliven the text, and a hefty RESOURCE CHAPTER at the end includes links to more than 90 tax-related websites and articles, all neatly arranged by topic categories with each link offering additional information on specific tax law, forms, deductions, or strategies discussed in the book.
After reading this book, you’ll realize that what’s important is not how much money you can MAKE in a business of your own . . . but how much you can legally KEEP out of the hands of the IRS.
When widowed in 2005 after nearly 44 years of marriage to a legendary Chicago Symphony musician, Barbara Brabec, author of eight best-selling home-business books, began to reinvent herself on the Web. Retiring from active involvement in the crafts and home-business industries, she began to encourage and help first-time authors with her book editing, manuscript critiquing, and telephone consulting services. In 2010, she successfully transitioned from a business writer to a memoirist and storyteller with the publication of "THE DRUMMER DRIVES! Everybody Else Rides." Today, Barbara's focus is on bringing her lifetime of writing on a wide range of topics to the attention of a vast new audience of eBook readers. Her personal domain at BarbaraBrabec.com offers a rich archive of her articles and resources for authors, self-publishers, computer users, and home-business owners in all fields of endeavor.