Small Business Taxes Made Easy, Third Edition, by Rosenberg, Eva
- ISBN: 9781260010763 | 1260010767
- Cover: Paperback
- Copyright: 1/31/2017
Introduction: A Letter from Eva Rosenberg to You, the Business Owner
How to Use This Book
1 Small Business Checklist
2 Business Plans You Know and Trust
Decisions, Decisions, Decisions
What Do You Want to Be When You Grow Up?
Entities, in All Their Glory
A Brief Word about Nevada, Delaware, and Wyoming Corporations
What about Nonprofits?
Entities Weíre Not Discussing
All the Highlights in One Place
Your Big Decision
4 Record Keeping
Keeping Records Is a Pain!
Types of Accounting Systems
Doing It by Hand
The IRS Says It All
Records You Must Keep
How Long Should You Keep Records?
Glossary of Bookkeeping Terms
Money In, Money Out, Wave Your Hands All About
A Capital Idea
What Is Income?
Timing of Income
A Brief Note about Accrual Basis
Sales Taxes ReceivedóAre They Your Money?
Income Rarely Reported
The IRS Has a New Audit Guide
1099s Your Business Receives
So What the Heck Is Income?
6 Common Deductions
Rule of Thumb
Itís All about You
Depreciation in Todayís World
More Deductions Than You Can Imagine
7 Office in Home
The Song Is Right! Letís Stay Home
Itís a Red Flag; Itís Just Asking for an Audit
Another Attractive Change to the Law Affecting Homeowners Only
Two Critical Reminders
Prove It, Baby!
What Are Office-in-Home Expenses?
When You Canít Use Office-in-Home Deductions
Evaluate Your Options
A Final Noteóand a Final Story
8 Vehicles: Everyone's Favorite Deduction
Deducting Auto Expenses
Should I Lease or Buy?
The Cons of Depreciation
Give Yourself Credit
9 Employees and Independent Contractors
Who Is an Employee?
Protecting Yourself from Independent Contractor Claims
Bennie the Barber
Safe Harbor Rules
What Are 1099s?
Payroll and Payroll Taxes
Payroll across Entities
Hiring Family Members
Preparing Payroll: Checks, Journals, Reports
Employee Ownership and Stock Options
Summing Up Employees
10 Owners' Fringe Benefits, Retirement, and Tax Deferment
Fringe Benefits and Reimbursements
The Health Care Reform Act of 2010
Employer-Provided Child-Care Facilities Credit
Employee Leasing and Trusts
Using the IRS to Your Advantage
11 Estimated Payments
Estimated Payments Overview
Whatís in It for You?
Who Should Be Making Estimated Payments?
When Should You Be Making Those Payments?
How Much Must You Pay?
My Short Method
Computing Your Estimated Installment Payments
Paying the Tax
Tips to Reduce Penalties for Underpayment of Estimated Tax
Donít Overpay Your Estimates If Youíre in Trouble
12 Special Considerations for Online Businesses
WWW = Who, What, Where?
What? I Thought There Was No Internet Tax
Internet Sales Tax Issues
Sales Tax Case Law
Sales Tax Nexus and Your Business
Rents and ServicesóDomestical and Abroad
Legal Issues on the Internet
In the End
13 Tax Notices, Audits, and Collection Notes
Dealing with Basic Tax Notices for Individual Returns
What Is Most Apt to Attract the IRSís Attention?
Anticipating an Audit: Laying the Groundwork
What Will Happen during the Audit?
What if You Donít Have Any Receipts?
Audit Reconsiderations, Appeals, and Tax Court: Some Brief Words
Should You Use Appeals Only as a Last Resort?
Getting Your Case to Tax Court
How about Filing Bankruptcy?
Summary of IRS Interactions
Epilogue: Some Final Words of Advice-- and Resources to Rely On