Reduce your taxes
Deduct It! shows you how to maximize your business deductions—quickly, easily, and legally. Whether your business is just starting or well established, this book is indispensable to your financial success. It covers deductions for:
- start-up and operating expenses
- travel and meals
- home offices
- medical expenses
- equipment and inventory
- and more.
Learn the rules for deducting net operating losses, state income taxes with a pass-through entity, and business bad debts. This book also has updated information on Section 179 expensing and bonus depreciation, as well as everything you need to know about the 20% pass-through deduction. Easy to read and full of real-world examples, Deduct It! will pay for itself many times over—especially if the IRS comes calling.
This edition has an updated section on tax credits and deductions for electric vehicles as well as guidance on filing a beneficial ownership information report with the federal government.
Table des matières
Introduction 1. Tax Deduction Basics 2. Are You Really in Business? 3. Start-Up Expenses 4. Business Operating Expenses 5. Deducting Long-Term Assets 6. Inventory 7. Office Expenses 8. Car and Local Travel Expenses 9. Business Travel 10. The Pass-Through Tax Deduction 11. Hiring Workers 12. Retirement Deductions 13. Medical Expenses 14. Additional Deductions 15. Record Keeping and Accounting 16. Staying Out of Trouble With the IRS Index
A propos de l’auteur
Stephen Fishman has dedicated his career as an attorney and author to writing useful, authoritative, and recognized guides on business, taxation, and intellectual property matters for small businesses, entrepreneurs, independent contractors, and freelancers. He is the author of 20 books and hundreds of articles, and has been quoted in The New York Times, Wall Street Journal, Chicago Tribune, and many other publications. Among his books are Every Landlord’s Tax Deduction Guide, Deduct It! Lower Your Small Business Taxes, Home Business Tax Deductions and Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Gig Workers of All Types, published by Nolo. He is a two-time recipient of the Independent Book Publishers Association’s Benjamin Franklin Award.
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