* Completely updated for all the new tax laws
* Capitalize on every deduction!
* Sole proprietor, corporation, or partnership?
The Ultimate Guide to Running a Tax-Efficient Home-Based
Business
The advantages of operating a home-based business are countless,
but what many owners don’t realize, and are often not prepared to
handle, are the host of complex tax issues surrounding a home-based
business. The completely updated Fifth
Edition of J.K. Lasser’s Taxes Made Easy for Your Home-Based
Business clarifies the current tax environment with regard to
home-based businesses, and shows you how to make the most of the
new tax laws.
This perennial guide answers home-based business owners’ questions,
with a special focus on the changing tax laws and deductions for
the home office. Expert advice and in-depth insights will help you
avoid costly mistakes and take advantage of opportunities you would
otherwise miss.
Critical coverage will help you:
* Navigate the details of the new tax laws and IRS rules
* Increase your knowledge of deductible expenses
* Keep your records up to IRS standards
* Organize and run a home-based business for maximum tax
benefits
* Make filing easy by utilizing sample tax forms
Table of Content
Introduction: Before We Get Started.
The Lay of the Land.
What Is a Business for Tax Purposes?
Choices for Business Organization.
Tax Accounting Methods and Periods.
Limitations on Use of Your Home.
Form 8829 Line by Line.
Planes, Trains, and (Especially) Automobiles.
Other Common Business Deductions.
Other Taxes.
Sale of Your Residence.
Records You Better Keep.
A Comprehensive Example.
Index.
About the author
GARY W. CARTER, CPA, Ph D, MT, has more than twenty years of
tax experience. He has worked as a revenue auditor and tax
practitioner, and is currently on the faculty of the University of
Minnesota?s Carlson School of Management. Carter also writes,
lectures, has a Web site (www.gwcartercpa.com), and conducts
seminars on tax issues pertaining to home-based businesses.
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