Book Review - Home Business Tax Deductions: Keep What You Earn by Stephen Fishman
Category Book Review Stephen Fishman Home Business Tax Deductions: Keep What You Earn
As I have a small side business related to my writing activities, I have to pay attention to all those tax-related matters. I found this book of interest at the library... Home Business Tax Deductions: Keep What You Earn by Stephen Fishman. It's probably one of the best tax guides I've seen, in that it's readable, understandable, and practical.
Contents:
Home Business Tax Deduction Basics
Are You Really In Business?
Avoiding the Start-Up Tax Trap
Home Business Operating Expenses
Deducting Long-Term Assets
The Home Office Deduction
Meal and Entertainment Expenses
Car and Local Travel Expenses
Business Travel
Inventory
Hiring Workers
Medical Expenses
Retirement Deductions
Additional Home Business Deductions
Record Keeping and Accounting
Claiming Tax Deductions for Prior Years
Staying Out of Trouble With the IRS
Help Beyond This Book
Index
I've waded through tax books that are extremely comprehensive, as well as *huge*. The problem there is that you're never quite sure if you've found everything you should be looking for. Fishman condenses those "phone book" guides into something around 450 pages that covers the most important aspects of the tax code that affect the home/small business owner. Instead of listing endless regulations and nuances, he gives you the information in a conversation style that doesn't sacrifice detail for readability. That's good, as you don't want to end up in front of a tax auditor ill-prepared for the questions they may ask. In addition to the coverage of the laws and guidelines, he also includes a number of realistic examples so you can see how that aspect of tax law would apply to someone who might be in your same situation. The combination of information and application make this a valuable guide that can easily save you the purchase cost of the book come April 15th.
I personally found the information reassuring, as I was able to confirm that the taxes I've done in the past have been accurate. If I had never had to do a Schedule C before, I'd consider this a must-read. Definitely worth buying...
As I have a small side business related to my writing activities, I have to pay attention to all those tax-related matters. I found this book of interest at the library... Home Business Tax Deductions: Keep What You Earn by Stephen Fishman. It's probably one of the best tax guides I've seen, in that it's readable, understandable, and practical.
Contents:
Home Business Tax Deduction Basics
Are You Really In Business?
Avoiding the Start-Up Tax Trap
Home Business Operating Expenses
Deducting Long-Term Assets
The Home Office Deduction
Meal and Entertainment Expenses
Car and Local Travel Expenses
Business Travel
Inventory
Hiring Workers
Medical Expenses
Retirement Deductions
Additional Home Business Deductions
Record Keeping and Accounting
Claiming Tax Deductions for Prior Years
Staying Out of Trouble With the IRS
Help Beyond This Book
Index
I've waded through tax books that are extremely comprehensive, as well as *huge*. The problem there is that you're never quite sure if you've found everything you should be looking for. Fishman condenses those "phone book" guides into something around 450 pages that covers the most important aspects of the tax code that affect the home/small business owner. Instead of listing endless regulations and nuances, he gives you the information in a conversation style that doesn't sacrifice detail for readability. That's good, as you don't want to end up in front of a tax auditor ill-prepared for the questions they may ask. In addition to the coverage of the laws and guidelines, he also includes a number of realistic examples so you can see how that aspect of tax law would apply to someone who might be in your same situation. The combination of information and application make this a valuable guide that can easily save you the purchase cost of the book come April 15th.
I personally found the information reassuring, as I was able to confirm that the taxes I've done in the past have been accurate. If I had never had to do a Schedule C before, I'd consider this a must-read. Definitely worth buying...
| Permalink |
