A quick google search on missed tax deductions will turn up articles listing anywhere from seven to as many as 50 commonly missed tax deductions. in fact, the extreme complexity of the tax code makes it very likely that small business owners will miss out on tax deductions that could reduce their liability, allowing them to reinvest more money in growth and operations.
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As a small business owner, you can also educate yourself by consulting a tax professional to make sure your bookkeeping and tax preparation are adequate to ensure you claim all the deductions your organization is entitled to. Below are six of the best accounting and tax books for small business owners.
You are reading: Small business tax books
1. small time trader: how to start your own business, keep your books, pay your taxes and stay out of trouble
written by a c.p.a. (Certified Public Accountant), this book is written for the small business owner or the self-employed professional. The author covers a wide range of topics, including best practices for accounting and taxes, financing, finding a good business location, the pros and cons of various business models, and more written in clear, easy-to-understand language. understand.
This could be an ideal book for someone who is preparing to open their own business or whose business is still in its early stages, as it provides guidance that can help with many of the decisions new business owners face. .
2. Taxes: Small Business Quick Start Guide: Understanding Taxes for Your Sole Proprietorship, Startup & llc
Small business owners represent a variety of business models. This book is an excellent guide for sole proprietors, independent contractors, and LLC startup business owners who want to gain a broad understanding of how the tax code applies to their organization. Some of the topics covered include:
- how to keep accurate records
- when and how to handle payroll taxes
- often missed deductions
- common tax mistakes you make small business owners make
- how to handle contact with the irs
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This book is available in print and digital formats and is even available for free to members of Amazon’s Kindle Unlimited program. it also has the advantage of being concise and brief, providing a lot of useful information to small business owners very quickly.
3. Independent Contractor, Sole Proprietor and LLC Taxes Explained in 100 Pages or Less
another book that is free to amazon kindle unlimited members and is written so that the information contained in it can be absorbed quickly, this book acts as an introductory manual on tax topics that apply to business; such as:
- home office deductions
- estimated tax payments
- self-employment taxes
- business retirement plans
- common business tax deductions
- audit protection and preparation
The author of the book, Mike Piper, is C.P.A. in Colorado, who has published numerous other books on finance and whose writing has appeared in acclaimed digital and print publications including the Wall Street Journal, Money Magazine, AARP Magazine, Forbes, CBS News, MarketWatch, and others.
4. jk lasser small business tax 2016: your complete guide to better results
For small business owners who want to gain an in-depth understanding of small business taxes, this guide written by attorney barbara weltman (a nationally recognized small business tax expert) offers an up-to-date comprehensive overview of small business taxes. Based on 2016 data. The book is described as a “solutions manual for simplifying tax time and substantial tax savings” that will enable readers to:
- simplify tax season so they can focus on their business
- reduce tax obligations easily and legally
- find the most relevant answers for your organizations
- better understand when and how deductions should be taken
5. The Tax and Legal Handbook: Innovative Solutions to Your Small Business Questions
Small business owners looking for answers to specific questions should consult the legal and tax playbook written by cpa and attorney mark j. Kohler. This book “answers the top legal and tax questions facing small business owners, at all stages of business…”
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In it you will find information on how to choose the right legal entity for your business, as well as underused tax and legal strategies that can lead to substantial savings. also covers common legal scams and scams, and provides information on how to protect small businesses and personal assets.
6. 475 tax deductions for companies and freelancers: an a to z guide to hundreds of tax deductions
With 475 tax deductions described as potentially beneficial for small business owners and self-employed professionals, this book could be the ultimate collection to help with business tax preparation. Read it cover to cover to familiarize yourself with all the deductions a business could take, or refer to it when in doubt about specific topics.
even if you are working with a c.p.a. As a tax professional, educating yourself about the taxes and deductions that may apply to your small business could result in significant savings and help ensure that your organization’s accounting and taxes are performed according to best practices. What you learn could keep your business out of trouble and allow you to reinvest more of the revenue you generate into growth and operations.
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