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Deduct It! Lower Your Small Business Taxes | 
| Author: Stephen Fishman
Creator: Diana Fitzpatrick
Publisher: NOLO
Category: Book
Rating:  14 reviews
Sales Rank: 439649
Media: Paperback
Edition: 4th
Number Of Items: 1
Pages: 496
Shipping Weight (lbs): 1.7
Dimensions (in): 8.9 x 6.9 x 1
ISBN: 1413307191
Dewey Decimal Number: 343.7305268
EAN: 9781413307191
Publication Date: December 12, 2007
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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.
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| Customer Reviews: Read 9 more reviews...
Excellent Tips July 22, 2005
39 out of 42 found this review helpful
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
Explaining the Rules, Both Written and Understood March 2, 2006
28 out of 31 found this review helpful
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.
Excellent book for small business deductions! June 26, 2006
19 out of 23 found this review helpful
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!
J Vasquez June 2, 2006
15 out of 16 found this review helpful
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.
Best yet January 13, 2007
8 out of 10 found this review helpful
This book has good detail and examples. I have purchased many such books, but so far this is the best.
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