Tax Strategies for the Small Business Owner: Reduce Your Taxes and Fatten Your Profits will
help the small business owner increase profits while feeling more comfortable dealing with
taxes. It begins by looking at the often overlooked critical decision small business owners
face when they start a business: the choice of business entity. The book then examines all the
deductions that a business owner can take legally to reduce taxes. It also provides advice
business owners need to make good tax-related decisions: Should I lease or buy? Should I hire
an employee or outsource the task? How much will buying a building reduce my taxes and for how
long? Many people freeze up when they are forced to prepare or even think about taxes. Some
receive a notice from the IRS and put it aside: They're too scared to open it! Yet taxes for
the most part follow common sense rules. You just need to know what they are and how they
affect your decisions. In this book readers will learn about the different business entities
the different taxes you must deal with (primarily income taxes) documentation procedures how
to work with a tax professional how to handle an audit and in general how to use the U.S.
Tax Code to your advantage. Among other things readers learn to take full advantage of tax
benefits and avoid potholes hidden in things like: Startup and ongoing expenses Cost of goods
sold Depreciation Payroll Retirement plans In short Tax Strategies for the Small Business
Owner will not only help you relax when you deal with your taxes-it'll show you how to use tax
law to your financial benefit.
