Deduct It! Lower Your Small Business Taxes
Deduct It! Lower Your Small Business Taxes

 
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Product Description

From start-up to success, you need to Deduct It!

Completely updated for 2008

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:

- start-up expenses
- operating expenses
- health deductions
- vehicles
- travel
- entertainment
- meals
- inventory
- equipment
- and many more

The 4th edition is completely updated with all the latest tax information and numbers for 2008, and provides new information on tax planning. Whether your business is just starting or well established, Deduct It! is indispensable to your venture.

Customer Reviews:

  • Great book!
    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....more info
  • Should be considered a thoroughly user friendly and instructive 'Tax Bible' for every small business owner
    We hear a lot about corporate taxes during this current political season. The average federal and state tax rate of small businesses is around 35%. But what is not generally known is that through the advantages of legal tax deductions most companies do not pay anywhere near that amount of tax assessment on their general revenues. Where it was once necessary to employ a top flight tax attorney, now anyone starting up an entrepreneurial venture in the form of a small business can take full and lawful advantage of all their tax deductions associates with start-up expenses, operating expenses, health and medical related expenditures, retirement commitments, as well as costs associated with entertainment, meals, travel, inventory, equipment, operating a home office, and so much more. They key to all this is "Deduct It!: Lower Your Small Business Taxes" by tax attorney and specialist Stephen Fishman. Now in a newly updated and expanded fourth edition, "Deduct It!" should be considered a thoroughly user friendly and instructive 'Tax Bible' for every small business owner wanting to steer clear of the IRS while taking full and legal advantage of every appropriate (and profitable) tax deduction allowed by law....more info
  • Immediately Useful
    If your a first time business owner this is a must have on your book shelf. You'll even learn how to deduct the book itself in the first chapter! You'll be severly handicapting yourself by not buying the book....more info
  • Worth every dollar x 10
    If you are unsure if you are MAXIMIZING your tax deductions for your small bizness, I guarantee that if you read this book you'll find more ways to save your hard earned money!...more info
  • Excellent Information
    This book has the information I have been looking for. It is the most detailed (and clearly written) of any books that I've purchased to help me know what is allowable (and not) as deductions for my small business. Helps in planning as well.
    SUPERB!...more info
  • Should be considered a thoroughly user friendly and instructive 'Tax Bible' for every small business owner
    We hear a lot about corporate taxes during this current political season. The average federal and state tax rate of small businesses is around 35%. But what is not generally known is that through the advantages of legal tax deductions most companies do not pay anywhere near that amount of tax assessment on their general revenues. Where it was once necessary to employ a top flight tax attorney, now anyone starting up an entrepreneurial venture in the form of a small business can take full and lawful advantage of all their tax deductions associates with start-up expenses, operating expenses, health and medical related expenditures, retirement commitments, as well as costs associated with entertainment, meals, travel, inventory, equipment, operating a home office, and so much more. They key to all this is "Deduct It!: Lower Your Small Business Taxes" by tax attorney and specialist Stephen Fishman. Now in a newly updated and expanded fourth edition, "Deduct It!" should be considered a thoroughly user friendly and instructive 'Tax Bible' for every small business owner wanting to steer clear of the IRS while taking full and legal advantage of every appropriate (and profitable) tax deduction allowed by law....more info
  • Excellent Tips
    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 www.kbb.com
    Edmunds www.edmunds.com
    NADA Guides www.nadaguides.com

    Tax websites:
    www.unclefed.com
    www.taxguru.net

    ...more info
  • Highly readable and informative
    This book is a must small business owners because it can improve their bottom line. Although it provides fairly good overview of tax deudctions, it should not be used as a comprehensive reference for tax professionals.

    The book is a relatively light read in a highly readable format. Each tax deduction has a good overview and a case example to boot. It isn't, however, an answer to complex tax questions which the book willingly acknowledges should be taken to a tax professional. For most business owners, this book should be sufficient for most of the tax deduction questions they may have. This book certainly answered all of mine.

    The book provides valuable information on the probability of an IRS audit (don't form sole proprietorship if you want to avoid an audit) and how one can minimize one's chances of an audit.

    ...more info
  • as a beginer, it was a smooth informative read
    i just started (well just INCORPORATED) my catering business. i found this book to be written in an accessible and unintimidating style. Fishman goes to great lengths to give examples, cite external sources for additional information, and generally uncomplicates the IRS jargon. now only if i had read this 6 months ago, i would really be ahead of the game!...more info
  • Very helpful.
    This book helped me to understand how the tax system works, and how you can use it to work for you. Lots of helpful tips in saving money....more info
  • J Vasquez
    This book is amazing. It's hard to set it down. Well organized with clear explanations and examples. A must for new business owners. It will help you steer away from IRS audits. The capital expense section will show you how to deduct the cost of this book....more info
  • Very helpful.
    This book helped me to understand how the tax system works, and how you can use it to work for you. Lots of helpful tips in saving money....more info
  • Excellent Book !!
    I just started my new business and this book is like boon to us. There is tremendous information for self employed professionals.
    I would recommend this product better than Tax Mama's...more info
  • Mostly business
    Well put together, through & easy to understand. Pertains mostly to business deductions, but does cover some basic personal taxes....more info
  • Best yet
    This book has good detail and examples. I have purchased many such books, but so far this is the best. ...more info
  • Deduct It! Lower your Business Taxes
    Somewhat Informative. I still went to a tax Advisor and some things in the book didn't agree with His advice....more info
  • Excellent book for small business deductions!
    This book is absolutely terrific (as are most NOLO books). the author details what is deductable for the different forms of businesses, what records are required, how to record those records and specifics for all the major topics of deductable expenses. All in all if you walked in to see an accountant day one of starting out your business he should just hand you this book have you read and then answer any questions that you need further clarification on. This is a great reference if you are unsure how a specific deduction works and a very quick and easy read. This should be on every business owners shelf!...more info
  • Small Business Owners Should Read
    I have used this book as a reference. I haven't read it cover-to-cover but it has been very useful for looking up several small business tax issues with regard to deductions. I have found the Nolo books (and this one in particular) to be a big time saver and money saver versus visiting a tax advisor, accountant, or CPA for specific questions about deductions. For getting answers to some basic small business tax deductions, this is a great book. I'm very happy and it was money well spent....more info
  • So simple to understand, excellent examples
    I read this book after forming a C-Corp in California (using the Nolo guide). Although I am familiar with many biz deductions, this book walks you through many examples of deductions you can take if you plan ahead. I really like the "Day in the Life of..." examples of how you can maximize legal deductions pertaining to mileage. There's an excellent section on home office deductions. My husband, a self-admitted dummy when it comes to expense reports, taxes, etc., picked up the book after I was done, and even he understands the concepts. Already he has found deductions for his sole proprietorship and non-reimbursed employee biz expenses. Great value and so easy to understand. Highly recommend....more info
  • Explaining the Rules, Both Written and Understood
    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. ...more info

 

 
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