Newburyport Public Library

Lower your taxes - big time!, small business wealth building and tax reduction secrets from an IRS insider, Sandy Botkin, CPA, Esq

eng

index present

non fiction

Lower your taxes - big time!

1356960384

Sandy Botkin, CPA, Esq

small business wealth building and tax reduction secrets from an IRS insider

Offers information for consultants, business owners, and contractors on how to save thousands of dollars on their tax bills, discussing strategies for getting subsidies, documenting business deductions, avoiding audits, and taking advantage of tax-free fringe benefits

Part 1. Wealth-building tax secrets for small and home-based business owners. Why you would be brain dead not to start a home-based business (if you don't already have one) -- How to deduct your meals and some employee outings -- How to turn your vacation into a tax-deductible write-off -- Income shifting and income splitting : one of the greatest single wealth-building secrets -- How to turn your car into a tax-deductible goldmine -- Home office : the misunderstood key to saving $15,000 every five years -- Beating the dreaded IRS audit -- How to shield yourself from the IRS weapon of classifying a business as a hobby -- Part 2. How to incorporate to shelter your wealth. Finding the best corporate entity for your business -- Forming a Nevada corporation or a limited-liability corporation in Nevada -- How to eliminate up to 40 percent of your social security and Medicare tax with an S corporation -- How to get assets and money into a corporation tax-free -- Part 3. Fringe benefits available to small and home-based businesses. Fringe benefits you will love, part 1 -- Fringe benefits you will love, part 2 -- Part 4. Miscellaneous tax strategies. The four most overlooked real estate tax deductions in America -- Making colleges less expensive with tax planning -- Tax planning for stock and bond investments -- Trader versus investor : the best-kept secret around -- Tax scams and other shams -- Highlights of the new tax cuts and jobs act legislation (updated) -- The top 10 tax questions -- Appendix A: 2022 tax rates -- Appendix B: How to find a good accountant -- Appendix C: Health savings account