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  • Book
  • © 2013

Tax Strategies for the Small Business Owner

Reduce Your Taxes and Fatten Your Profits

Apress

Authors:

  1. Russell Fox
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  • Tax Strategies for the Small Business Owner: Reduce Your Taxes and Fatten Your Profits will help business owners increase their profits and feel more comfortable dealing with taxes.

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Table of contents (18 chapters)

  1. Front Matter

    Pages i-xi
    PDF

  2. Before the Business Opens

    1. Front Matter

      Pages 1-1
      PDF

    2. The Business Entity

      • Russell Fox
      Pages 3-18

    3. An Overview of Taxation

      • Russell Fox
      Pages 19-31

    4. Before Your Business Opens

      • Russell Fox
      Pages 33-44

  3. Day-to-Day Expenses

    1. Front Matter

      Pages 45-45
      PDF

    2. The Basics of Expenses

      • Russell Fox
      Pages 47-52

    3. Cost of Goods Sold

      • Russell Fox
      Pages 53-61

    4. The Office

      • Russell Fox
      Pages 63-73

    5. The Car

      • Russell Fox
      Pages 75-84

    6. Travel

      • Russell Fox
      Pages 85-92

    7. Meals and Entertainment

      • Russell Fox
      Pages 93-103

    8. Fixed Assets and Depreciation

      • Russell Fox
      Pages 105-122

  4. Employees, Payroll Taxes, and Benefit Plans

    1. Front Matter

      Pages 123-123
      PDF

    2. Other Deductions

      • Russell Fox
      Pages 125-144

    3. Employees and Wages

      • Russell Fox
      Pages 145-161

    4. Payroll Taxes

      • Russell Fox
      Pages 163-178

    5. Medical Expenses

      • Russell Fox
      Pages 179-187

    6. Retirement Plans

      • Russell Fox
      Pages 189-199

  5. Other Items

    1. Front Matter

      Pages 201-201
      PDF
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About this book

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.
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About the author

Russell Fox is an Enrolled Agent, a federally licensed tax professional. He s the founder and a principal at Clayton Financial and Tax and has been in the business since 1999. His tax practice (both preparation and representation) serves nearly 1,000 clients with emphases in small business and gambling. His tax blog, taxabletalk.com, has been named one of the ten best accounting and tax blogs. Previously, he was in financial and operations management for 15 years working in various industries, including agriculture, telecommunications, and high-technology. He s also the co-author of three books on poker. He resides in Las Vegas, Nevada.
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Bibliographic Information

  • Book Title: Tax Strategies for the Small Business Owner

  • Book Subtitle: Reduce Your Taxes and Fatten Your Profits

  • Authors: Russell Fox

  • DOI: https://doi.org/10.1007/978-1-4302-4843-9

  • Publisher: Apress Berkeley, CA

  • eBook Packages: Business and Economics, Business and Management (R0), Apress Access Books

  • Copyright Information: Russell Fox 2013

  • Softcover ISBN: 978-1-4302-4842-2Published: 04 January 2013

  • eBook ISBN: 978-1-4302-4843-9Published: 18 March 2014

  • Edition Number: 1

  • Number of Pages: XI, 280

  • Number of Illustrations: 31 b/w illustrations

  • Topics: Business and Management, general

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Buy it now

eBook USD 19.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 29.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

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