Taxes Made Easy for Your Home-Based Business

Taxes Made Easy for Your Home-Based Business

by Gary W. Carter, Gary Carter

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Product Details

ISBN-13: 9780028627977
Publisher: Macmillan Publishing Company, Inc.
Publication date: 12/01/1998
Pages: 286
Product dimensions: 7.37(w) x 9.06(h) x 0.82(d)

Table of Contents

J.K. LASSER'S( Taxes Made Easy for Your Home-Based Business, Second Edition - Table of Contents


J.K. LASSER'S( Taxes Made Easy for Your Home-Based Business, Second Edition

Introduction: Before We Get Started

  • Chapter 1 - The Lay of the Land
    • Legislative, Administrative, and Judicial Authority
    • The Audit Process and Your Appeal Rights
    • Additional Resources
    • Notes

  • Chapter 2 - What Is a Business for Tax Purposes?
    • Investing Cannot Be a Business
    • Dealing or Trading Could Be a Business
    • Rents from Real Estate
    • Is it a Hobby or a Business?
    • Identifying Deductible Business Expenses
    • Additional Resources
    • Notes

  • Chapter 3 - Choices for Business Organization
    • Sole Proprietorships
    • Partnerships
    • C Corporations
    • Forming a Corporation
    • S Corporations
    • Limited Liability Companies (LLC)
    • Which Form Is Best?
    • Additional Resources
    • Notes

  • Chapter 4 - Tax Accounting Methods and Periods
    • What Is a Method of Accounting?
    • The Cash Receipts and Disbursements Method
    • Accrual Methods
    • The Hybrid Method
    • Which Method Is Best for You?
    • Accounting Periods
    • Additional Resources
    • Notes

  • Chapter 5 - Limitations on Use of Your Home
    • Why Pick on Us?
    • A Quick Summary of the Restrictions
    • Is Your "Home" Where You Think it Is?
    • Regular Use of a Home Office
    • Exclusive Means Exclusive!
    • What Is Your Principal Place of Business?
    • A Place to Meet Patients, Clients, or Customers
    • The Use of Separate Structures
    • Use as Storage Space
    • Daycare Services
    • Application of §280a Business- Use Tests to Partnerships and Corporations
    • Employee Expenses
    • Additional Resources
    • Notes

  • Chapter 6 - Form 8829 Line by Line
    • Determining the Part of Your Home Used for Business
    • Figuring Your Allowable Deduction
    • Depreciation of the Business Portion of Your Home
    • An Example Using Form 8829 and Form 4562
    • Additional Resources
    • Notes
  • Chapter 7 - Planes, Trains, and (Especially) Automobiles
    • Travel Away from Home
    • Transportation
    • Your Car: Standard Mileage Rate Versus Actual Expenses
    • The Standard Mileage Allowance Method
    • The Actual Cost Method
    • How to Report Travel and Transportation Deductions on Your Return
    • Additional Resources
    • Notes

  • Chapter 8 - Other Common Business Deductions
    • Who Deducts What, Where?
    • Depreciation of Personal Property
    • Computer Software
    • Books, Subscriptions, and Supplies
    • Telephone Services
    • Meals and Entertainment
    • Business Liability Insurance
    • Health Insurance and Medical Savings Accounts
    • Wages for Home-Office Workers
    • Retirement Plans for the Self-Employed
    • Additional Resources
    • Notes

  • Chapter 9 - Other Taxes
    • State and Local Taxes
    • Self-Employment Taxes
    • Federal Estimated Tax Payments
    • Employment Taxes
    • Additional Resources
    • Notes
  • Chapter 10 - Sale of Your Residence
    • The Sale of a Principal Residence Before and After The Taxpayer Relief Act of 1997
    • Reporting Post-Taxpayer Relief Act of 1997 Sales
    • Additional Resources
    • Notes

  • Chapter 11 - Records You Better Keep
    • General Bookkeeping and Substantiation Requirements
    • Special Substantiation Requirements
    • When Is it Safe to Throw Stuff Away?
    • Additional Resources
    • Notes

  • Chapter 12 - A Comprehensive Example
    • Judy's Business
    • Other Return Items
    • Notes

    Index

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