Tax Smarts for Small Business, 2E: Maximize Your Deductions Using the Latest Changes to the Tax Laws / Edition 2

Tax Smarts for Small Business, 2E: Maximize Your Deductions Using the Latest Changes to the Tax Laws / Edition 2

by James Parker
     
 

Run a profitable business while minimizing taxes.See more details below

Overview

Run a profitable business while minimizing taxes.

Product Details

ISBN-13:
9781572485785
Publisher:
Sourcebooks, Incorporated
Publication date:
01/04/2007
Series:
Tax Smarts for Small Business Series
Edition description:
REV
Pages:
272
Product dimensions:
7.00(w) x 9.00(h) x 0.60(d)

Meet the Author

James O. Parker received his law degree from Memphis State University Humphreys School of Law. He received his masters of law in taxation from Emory University School of Law. Mr. Parker currently practices in the areas of taxation, business law, probate and real estate. His private practice is located in Memphis, Tennessee.

Table of Contents

Introduction

Chapter 1: Income
Realizing Income
Constructive Receipt
Assignment of Income
Method of Accounting

Chapter 2: Gross Income
Compensation for Services
Business Income
Gain from Dealings in Property
Capital Gains and Losses
Determining Whether Property is a Capital Asset
Deferring Recognition of Capital Gains
Conversions of Property
Reporting Capital Gains and Losses
Interest
Rents
Royalties
Dividends
Contents
Distributive Share of Partnership Income
Loans
Specifically Excluded Sources of Income

Chapter 3: Adjusted Gross Income
Losses from Sale or Exchange of Property
Expenses Related to Rents and Royalties
Trade and Business Deductions
Deductible Employees' Expenses
Nonreimbursed, Employee Business Expenses

Chapter 4: Home Office Expense
Qualifying Business Purposes
Regular, but not Exclusive
Allocating Percentage of Use
Eligible Expenses
Drawbacks to Taking the Deduction
Special Rules
Limitations

Chapter 5: Nonbusiness Deductions for the Self-Employed
Self-Employment Tax
Health Insurance Deduction
Retirement Plans

Chapter 6: Losses and Bad Debts
Losses on Sale or Exchange of Property
Casualty and Theft Loss
Net Operating Losses
Passive Losses
Bad Debt

Chapter 7: Taxable Income
Categories of Deductions
Itemized Deductions
Exemptions

Chapter 8: Taxes
Individual Federal Income Taxes
Alternative Minimum Tax
FICA Taxes-Social Security and Medicare Taxes
Self-Employment Tax
Corporate Federal Income Taxes

Chapter 9: Tax Credits
General Business Credit
Personal Credits
Retirement Savings Contributions
Other Nonrefundable Credits
Refundable Credits
Order of Application of Tax Credits

Chapter 10: Tax Considerations in Entity Selection
Sole Proprietorships
Partnerships
Joint Ventures
Limited Partnerships
Limited Liability Partnerships
Family Partnerships
Corporations
Professional Corporations
Limited Liability Companies
Family Limited Liability Companies

Chapter 11: Retirement Plans
Individual Retirement Arrangements
Roth IRAs
Simplified Employee Pension Plans
SIMPLE IRAs
401(k) Plans
Other Retirement Plans

Chapter 12: Withholding Taxes
Withholding Employee Taxes
Amount to Withhold
Payment of Withholding Taxes
Filing Appropriate Returns
Estimated Tax Payments

Glossary
Index
About the Author

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