JK Lasser's Small Business Taxes 2010: Your Complete Guide to a Better Bottom Line
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The tax facts and strategies that every small business owner needs to know for their 2009 tax return and year-round planning Owning a small business is a big responsibility. While all small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser's Small Business Taxes 2010, you'll quickly discover how. Written in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year. Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow. In this fully updated volume, you'll find: Detailed coverage of the newest tax laws and IRS rules (including the American Recovery and Reinvestment Act of 2009) Planning strategies that can help you run a tax-smart business all year long Comprehensive information on each deductible expense, including dollar limits and record-keeping requirements Clear instructions on where to report income and claim deductions on your tax forms Help with state taxes and a guide to information returns you may need to file Sample forms and checklists to help you prepare for tax time Access to a free online supplement to this book at JKLasser.com, which contains up-to-the-minute tax changes
Preface vIntroduction ixPart 1 Organization 11 Business Organization 32 Tax Year and Accounting Methods 343 Recordkeeping for Business Income and Deductions 51Part 2 Business Income and Losses 634 Income or Loss from Business Operations 655 Capital Gains and Losses 936 Gains and Losses from Sales of Business Property 113Part 3 Business Deductions and Credits 1257 Employee Compensation: Salary, Wages, and Employee Benefits 1278 Travel and Entertainment Expenses 1589 Car and Truck Expenses 18910 ssRepairs, Maintenance, and Energy Improvements 21811 Bad Debts 23112 Rents 24313 Taxes and Interest 25414 First-Year Expensing, Depreciation, Amortization, and Depletion 26915 Advertising Expenses 30716 Retirement Plans 31417 Casualty and Theft Losses 34718 Home Office Deductions 36119 Medical Coverage 37720 Deductions for Farmers 39021 Domestic Production Activities Deduction 40222 Miscellaneous Business Deductions 40923 Roundup of Tax Credits 451Part 4 Tax Planning For Your Small Business 46324 Income and Deduction Strategies 46525 Tax Strategies for Opening or Closing a Business 48126 Tax Strategies for a Sideline Business 49127 Tax Strategies for Multiple Businesses 49528 Alternative Minimum Tax 50129 Other Taxes 50830 Filing Income Tax Returns and Paying Taxes 529Appendix A Information Returns 539Appendix B Checklist of Tax-Related Corporate Resolutions 546Index 549
