Tax Savvy for Small Business: A Complete Tax Strategy Guide

by Glen Secor Attorney

Overview

Create a business tax strategy that will save you time, effort, 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:

• maximize business deductions
• write off long-term assets quickly
• take home office deductions
• use your business to save for retirement
• save taxes in your family business
• track and report employment taxes
• offer fringe benefits and retirement plans to your employees
• keep solid business records, and
• handle an IRS audit.

This completely updated edition covers changes in tax rates, deductions, and credits. The 23rd edition also identifies important small business tax benefits that are scheduled to expire after 2025. Tax Savvy for Small Business is the up-to-date resource you need to maximize your deductions and boost your business's bottom line.

Product Details

ISBN-13:	9781413332315
Publisher:	NOLO
Publication date:	01/28/2025
Edition description:	23rd ed.
Pages:	368
Product dimensions:	8.50(w) x 11.00(h) x 1.00(d)

About the Author

Glen Secor is a Nolo editor and a Massachusetts attorney with over 30 years' experience in the practice of business and intellectual property law. He holds degrees from Suffolk UniversityLaw School and Harvard Law School, and has taught at the University of New Hampshire School of Law.

Table of Contents

Tax Basics 1. Deductible Business Expenses 2. Writing Off Long-Term Business Assets 3. Bookkeeping and Accounting 4. Business Losses and Failures 5. Tax Concerns of Employers 6. Sole Proprietorships—Solos, Freelancers, and Independent Contractors 7. C Corporations 8. S Corporations 9. Partnerships 10. Limited Liability Companies 11. Qualified Personal Service Corporations 12. Family Businesses 13. Home-Based Businesses 14. Fringe Benefits 15. Retirement Plans 16. Buying a Business 17. Selling or Closing a Sole Proprietorship 18. When You Can't Pay Your Taxes 19. Audits 20. Appealing IRS Audits 21. Penalties and Interest 22. Help Beyond the Book 23. Answers to Frequently Asked Tax Questions Glossary Appendix Index

Editorial Reviews

"This plain-English guide will show you how to make the most of your tax-deductions". Business Week

"Even if you use an accountant, pick up a copy of this book for further understanding and tax management." Small Business Opportunities

"A completely invaluable guide... keep this on your bookshelf for future reference. Five stars (we love it)." Inc. Magazine

"The essential small business tax strategy book for the savvy entrepreneur". Named "Best Tax Book" by Entrepreneur magazine

From the Publisher