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Home business tax deductions: keep what you earn
Author
Publisher
Nolo
Publication Date
Varies, see individual formats and editions
Language
English
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Table of Contents
From the Book - 16th edition.
Some tax basics
Is your home business really a business?
Getting your business up and running
Home business operating expenses
Deducting long-term assets
The home office deduction
The pass-through tax deduction
Getting around town: car and local travel expenses
Leaving town: business travel
Inventory
Hiring help: employees and independent contractors
What if you get sick?: deducting medical expenses
Deductions that can help you retire
More home business deductions
Record keeping and accounting
Businesses owned by spouses
Eight tips for avoiding an IRS audit.
From the Book - 14th edition.
1 Some Tax Basics 3
2 Is Your Home Business Really a Business? 19
3 Getting Your Business Up and Running 39
4 Home Business Operating Expenses 49
5 Deducting Long-Term Assets 59
6 Home Office Deduction 109
7 Eating Out and Going Out: Deducting Meal and Entertainment Expenses 149
8 Getting Around Town: Car and Local Travel Expenses 167
9 Leaving Town: Business Travel 181
10 Inventory 207
11 Hiring Help: Employees and Independent Contractors 221
12 What If You Get Sick? Deducting Medical Expenses 247
13 Deductions That Can Help You Retire 287
14 More Home Business Deductions 303
15 Record Keeping and Accounting 333
16 Businesses Owned by Spouses 375
17 Eight Tips for Avoiding an IRS Audit 383.
From the Book - 13th edition.
Introduction: Your home business tax deductions companion
Some tax basics
Is your home business really a business?
Getting your business up and running
Home business operating expenses
Deducting long-term assets
The home office deduction
Eating out and going out: deducting meal and business expenses
Getting around town: car and local travel expenses
Leaving town: business travel
Inventory
Hiring help: employees and independent contractors
What if you get sick? Deducting medical expenses
Deductions that can help you retire
Home home business deductions
Record keeping and accounting
Businesses owned by spouses
Staying out of trouble with the IRS
Help beyond this book.
From the Book - 12th edition.
Some tax basics
Is your home business really a business
Getting your business up and running
Home business operating expenses
Deducting long-term assets
The home office deduction
Eating out and going out: deducting meal and entertainment expenses
Getting around town: car and local travel expenses
Leaving town: business travel
Inventory
Hiring help: employees and independent contractors
What if you get sick? deducting medical expenses
Deductions that can help you retire
More home business deductions
Record keeping and accounting
Husband and wife home businesses
Staying out of trouble with the IRS
Help beyond this book.
From the Book - 9th ed.
Your Home Business Tax Deductions Companion
1. Some Tax Basics
How Tax Deductions Work
How Businesses Are Taxed
What Businesses Can Deduct
Adding It All Up: The Value of Tax Deductions
2. Is Your Home Really a Business
Proving That You Are in Business
Tax Consequences of Engaging in a Hobby
Investing and Other Income-Producing Activities
3. Getting Your Business Up and Running
What Are Start-Up Expenses?
When Does a Business Begin?
Claiming the Deduction
If Your Business Doesn't Last 15 Years
Expenses for Businesses That Never Begin
Avoiding the Start-Up Tax Rule's Bite
4. Home Business Operating Expenses
Requirements for Deducting Operating Expenses
Operating Expenses That Are Not Deductible
How to Report Operating Expense Deductions
5. Deducting Long-Term Assets
Long-Term Assets
Section 179 Deductions
Bonus Depreciation
Regular Depreciation
Tax Reporting and Record Keeping
Leasing Long-Term Assets
6. The Home Office Deduction
Qualifying for the Home Office Deduction
Corporation Employees
Calculating the Home Office Deduction
IRS Reporting Requirements
Audit-Proofing Your Home Office Deduction
7. Eating Out and Going Out: Deducting Meal and Entertainment Expenses
What Is Business Entertainment?
Who You Can Entertain
Deducting Entertainment Expenses
Calculating Your Deduction
Reporting Entertainment Expenses on Your Tax Return
8. Getting Around Town: Car and Local Travel Expenses
Deductible Local Transportation Expenses
The Standard Mileage Rate
The Actual Expense Method
How to Maximize Your Car Expense Deduction
Other Local Transportation Expenses
Reporting Transportation Expenses on Your Tax Return
When Clients or Customers Reimburse You
9. Leaving Town: Business Travel
What Is Business Travel?
Deductible Travel Expenses
How Much You Can Deduct
Maximizing Your Business Travel Deductions
Travel Expenses Reimbursed by Clients or Customers
10. Inventory
What Is Inventory?
Maintaining an Inventory
Deducting Inventory Costs
IRS Reporting
11. Hiring Help: Employees and Independent Contractors
Employees Versus Independent Contractors
Tax Deductions for Employee Pay and Benefits
Reimbursing Employees for Business-Related Expenditures
Employing Your Family or Yourself
Tax Deductions When You Hire Independent Contractors
12. What If You Get Sick? Deducting Medical Expenses
The Health Care Reform Act
The Personal Deduction for Medical Expenses
Deducting Health Insurance Premiums
Tax Credits for Employee Health Insurance
Medical Reimbursement Plans
Health Savings Accounts
13. Deductions That Can Help You Retire
Why You Need a Retirement Plan (or Plans)
Individual Retirement Accounts (IRAs)
Employer IRAs
Keogh Plans
Solo 401 (k) Plans
14. More Home Business Deductions
Advertising
Business Bad Debts
Casualty Losses
Charitable Contributions
Dues and Subscriptions
Education Expenses
Gifts
Insurance for Your Business
Interest on Business Loans
Legal and Professional Services
Taxes and Licenses
15. Record Keeping and Accounting
What Records Do You Need?
Records of Your Income and Expenses
Records Required for Specific Expenses
How Long to Keep Records
What If You Don't Have Proper Tax.Records?
Accbunting Methods
Tax Years
16. Husband and Wife Home Businesses
An Employer-Employee Arrangement
Establish a Qualified Joint Venture
Form a Business Entity
Do Nothing
17. Staying Out of Trouble With the IRS
What Every Home Business Owner Needs to Know About the IRS
Ten Tips for Avoiding an Audit
18. Help Beyond This Book
Secondary Sources of Tax Information
The Tax Law
Consulting a Tax Professional
Index
From the Book
Some tax basics
Is your home business really a business?
Getting your business up and running
Home business operating expenses
Deducting long-term assets
The home office deduction
The pass-through tax deduction
Getting around town : car and local travel expenses
Leaving town : business travel
Inventory
Hiring help : employees and independent contractors
What if you get sick? : deducting medical expenses
Deductions that can help you retire
More home business deductions
Using cryptocurrency in your business
Record keeping and accounting
Businesses owned by spouses
Nine tips for avoiding an IRS audit.
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Subjects
Subjects
BUS064030
BUSINESS & ECONOMICS / Home-Based Businesses
BUSINESS & ECONOMICS / Taxation / Small Business
Home-based business
Home-based business -- Taxation -- Law and legislation
Home-based businesses
Home-based businesses -- Taxation -- Law and legislation
Home-based businesses -- Taxation -- Law and legislation -- United States -- Popular works
Income tax deductions for home office expenses
Income tax deductions for home office expenses -- United States -- Popular works
Instructional and educational works
Law and legislation
Law for laypersons
Popular works
Self-instructional works
Taxation
United States
BUSINESS & ECONOMICS / Home-Based Businesses
BUSINESS & ECONOMICS / Taxation / Small Business
Home-based business
Home-based business -- Taxation -- Law and legislation
Home-based businesses
Home-based businesses -- Taxation -- Law and legislation
Home-based businesses -- Taxation -- Law and legislation -- United States -- Popular works
Income tax deductions for home office expenses
Income tax deductions for home office expenses -- United States -- Popular works
Instructional and educational works
Law and legislation
Law for laypersons
Popular works
Self-instructional works
Taxation
United States
More Details
Contributors
ISBN
9781413322071
9781413332216
9781413317411
9781413326857
9781413323214
9781413324150
9781413332216
9781413317411
9781413326857
9781413323214
9781413324150
ISSN
1932-2402
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