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Deduct It!: Lower Your Small Business TaxesFrom NOLO
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For all your tax deductions, from start-up to success, you need to Deduct It!
Completely updated for 2011 returns
Make more money for your small business by paying the IRS less. Let Deduct It! show you how to maximize the business deductions you're entitled to -- quickly, easily and legally.
This comprehensive, yet easy to read book is organized into practical categories featuring common deductions, including:
The 8th edition is updated to cover changes in tax laws, including substantive changes and updated tax numbers. Whether your business is just starting or well-established, Deduct It! is indispensable to your venture.
- Sales Rank: #1183967 in Books
- Published on: 2011-12-06
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 1.50" w x 7.00" l, 1.82 pounds
- Binding: Paperback
- 526 pages
Review
"Offers basic information and examples in plain English on how businesses are taxed and how to maximize deductions that the IRS considers legitimate." Reference & Research Book News
Review
"Delves deeply into the complex thicket of available deductions, with real-life examples on deducting everything from start-up expenses to car and travel expenses and the costs of benefits."
Review
"Outlines the many deductions available to small businesses -- in plain English."
Most helpful customer reviews
75 of 79 people found the following review helpful.
Explaining the Rules, Both Written and Understood
By John Matlock
The income tax laws of the United States clearly allow you do deduct business expenses. But from this basic rule has come an incredibly complex set of subsidiary rules that further define what are legitimate deductions and what are not allowed.
The strength of this book is that it explains these rather complex (arcane even) IRS rules in plain common sense language that the average businessman can follow. And further it gives hints and tips that are based on what is known about how the IRS really operates - these are the real rules instead of the written rules. For instance -- Filing by mail reduces your chance of being audited. Why, because the IRS doesn't transcribe all of the information on the printed return to electronic form where it can be analyzed by computer. If you file electronically, everything you enter is available for the computer to analyze.
You'll never know if information like this kept you from being audited, but it's certainly information that you'd want to know. In this book there is a wealth of such information that can't help but be of use as you prepare your tax forms.
42 of 44 people found the following review helpful.
Great book!
By wwms
Great book. Just one comment. A lot of the text in this book is identical to the text in Tax Deductions for Professionals. You don't need both books; choose one.
62 of 68 people found the following review helpful.
Excellent Tips
By Carmen Matthews
At first glance, I thought, "Okay. It's a textbook." Yet, as I read this book it became a walk through finding what I wanted - excellent tips on small business deductions.
Mr. Fishman has managed to convert tax law and accounting into an easy to follow source for anyone who has or plans to have a small business.
And there were many sections that surprized me.
One example was "The basic rule is that, no matter what month and day of the year you buy an asset, you treat it as being placed in service on July 1 -the midpoint of the year. This means that you get one-half year of depreciation for the first year that you own an asset."
Another great part in this book is that he identifies excellent details about the difference between deductions for the homebased small business deductions that are local travel (within your county), versus travel that is outside of your area.
Some of the well-placed, noteworthy websites in this this book are:
Kelly Blue Book [...]
Edmunds [...]
NADA Guides [...]
Tax websites:
[...]
[...]
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