The Small Business Owner's Tax Guide

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About the author:
After hitting a professional wall in my law practice after 10 years, I decided to close my law practice and focus on what I really wanted to do: become an author, speaker, teacher, mentor. As a "recovering attorney" and my previous experience in marketing, it turns out that my knowledge base is solidly centered around the small business owner. I have helped dozens of people start their own business, improve their small business, and save their small business from financial ruin. I run Success Point Consulting, where I help small business owners avoid costly mistakes and develop their skills and confidence to run a successful small business.

The Small Business Owner's Tax Guide

What every small business owner must know about reducing taxes

Authored by Katryna Johnson J.D.

Taxes, taxes, taxes. They are a fact of life, especially a business life. Many small business owners overpay taxes each and every year because they are not educated on all of the possible allowable tax deductions they can take. They don't plan their expenses properly to maximize their deductibility. No one should overpay taxes -- ever. The tax laws are meant to be followed, just like any other law, so if you are allowed to take a deduction, doesn't it make sense that you would take it?

The wealthy pay a lot less in taxes than you do because they know the rules. And the biggest rule of all is:you need to own a business and then take full advantage of the tax savings allowed. Why don't you? Because you haven't learned the rules. That ends today. Here's a book, written in easy-to-understand English (not IRS double-speak) that explains many of the rules and gives you tips and suggestions on how you, too, can deduct, deduct, deduct.

Do you work out of your home? Are you clear on how to qualify for the home office deduction? Are you deducting a proportion of every expense that could be allocated to your business? The IRS reports that there over 300 expense categories for a home office, but most businesses take less than 20 deductions.

The IRS says all "ordinary and necessary" expenses you incur in operating your business are tax deductions. Interestingly enough, the IRS has never actually defined "ordinary" or "necessary." So sometimes only the actual business owner can know if the expense is ordinary and necessary. Proper record-keeping and having the right tax-saving mindset can help you maximize the value of your tax deductions, tax credits, and tax deferral strategies, dramatically increasing your savings.

It's your money. Learn how to keep more of it in your pocket. (Oh, and the cost of this book ... it's deductible!)

Publication Date:
1479116254 / 9781479116256
Page Count:
Binding Type:
US Trade Paper
Trim Size:
5.5" x 8.5"
Black and White
Related Categories:
Business & Economics / Taxation / Small Business

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