Tax Savvy for Small Business: A Complete Tax Strategy Guide

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

• deduct operating expenses
  
• deduct travel, vehicle, and meal expenses
  
• take advantage of tax credits
  
• write off long-term assets
  
• compare business structures
  
• keep solid business records, and
  
• handle an IRS audit.
  

This completely updated edition covers changes in tax rates, deductions, and credits, including the commercial clean vehicle tax credits under the Inflation Reduction Act of 2022. Tax Savvy for Small Business is the up-to-date resource you need to maximize your deductions and boost your business's bottom line.

ISBN-13: 9781413330403

Media Type: Paperback

Publisher: NOLO

Publication Date: 01-31-2023

Pages: 384

Product Dimensions: 8.30(w) x 10.80(h) x 1.00(d)

Stephen Fishman is the author of many Nolo books, including Deduct It! Lower Your Small Business Taxes, Every Landlord's Tax Deduction Guide and Home Business Tax Deductions: Keep What You Earn—plus many other legal and business books. He received his law degree from the University of Southern California and after time in government and private practice, became a full-time legal writer.

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