Deduct It!: Lower Your Small Business Taxes

Reduce Taxes for Your Small Business Small business owners can qualify for many tax deductions and credits, saving them lots of money. This edition covers all you need to know under new tax laws to ensure you take advantage of all the tax deductions and credits to which you're entitled. Deduct It! shows you how to maximize your business deductionsquickly, easily, and legally. This edition explains what small business owners need to know about deductions, including the home office deduction and the 20% pass-through deduction. It also explains how to keep proper tax records. You'll also learn the rules for deducting start-up and operating expenses, net operating losses, state income taxes with a pass-through entity, cryptocurrency given to a charity, and more. Deduct It! is organized into practical, easy-to-understand categories of the most commonly-used business deductions. It includes interesting and relevant examples so readers can see how the deductions work and the context in which they come up. This book provides the comprehensive, up-to-date tax law information that small business owners need to save money on taxes. Understanding taxes is essential for all small business owners now more than ever. Easy to read and full of real-world examples, Deduct It! will pay for itself many times over.