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Small Business Taxes For Dummies

Eric Tyson

ISBN: 978-1-118-80722-4 January 2013 288 Pages


Are you a small business owner taxed by taxes?

Not being up-to-speed on tax rules and strategies can lead to mistakes that cost business owners thousands of dollars in fines and penalties every year. Small Business Taxes For Dummies assists both current and aspiring small business owners with important tax planning issues.

For the estimated 21 million small business owners in the U.S., the nation's tax codes continue to change and increase in complexity. Small Business Taxes For Dummies arms you for important tax planning issues, including: year-round tax planning tips and expense tracking advice; small business decisions and expense basics; business use of your home and self-employment taxes; creating an ongoing tax routine; dealing with the IRS and where to find help; navigating audits and notices; and more.

  • Guides you through the current tax laws and ensures that you understand your rights and obligations
  • Helps small business owners save time and money
  • Empowers you to understand and prepare your own tax documents

The expert tips and advice presented in Small Business Taxes For Dummies are for the millions of small business owners like you searching for a guide to the latest tax codes and regulations.

Introduction 1

Part I: Tax Basics 5

Chapter 1: Small Business Taxes 101 7

Chapter 2: Making Important Business Decisions 19

Chapter 3: Retirement Accounts and Investments for Small Businesses 41

Chapter 4: Real Estate and Your Small Business 71

Chapter 5: Estate Planning 83

Part II: Ongoing Tax Jobs 97

Chapter 6: Keeping Track of Your Small Business Revenues and Costs 99

Chapter 7: Form 1040 Filing Options 109

Chapter 8: Schedules C and C-EZ 139

Chapter 9: The Business Use of Your Home 159

Chapter 10: Estimated Taxes, Self-Employment Taxes, and Other Common Forms 171

Part III: Getting Help 185

Chapter 11: Dealing with Notices and Audits 187

Chapter 12: Keeping Up with and Researching Tax Strategies and Rules 217

Chapter 13: Paying for Tax Help 225

Part IV: The Part of Tens 237

Chapter 14: (Almost) Ten Often Overlooked Tax Reduction Opportunities 239

Chapter 15: Ten Resources to Turn to After Reading This Book 245

Index 249