Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money, 6th ed.By Frederick W. Daily 266 pages; hardcover; $34.99 Nolo, Berkeley, California Berkeley is a city on the east shore of San Francisco Bay in Northern California, in the United States. Its neighbors to the south are the cities of Oakland and Emeryville. To the north is the city of Albany and the unincorporated community of Kensington. , 2002 Frederick W. Daily--a tax attorney with more than 30 years of experience--thinks small business owners need all the help they can get to understand and use the law to help them minimize taxes. CPAs with business owner clients provide as much assistance as possible and, at times, recommend supplementary reading. The updated self-help guide Tax Savvy for Small Business is such a reference aid, and its goal is to familiarize small business owners with the various ins and outs ins and outs pl.n. 1. The intricate details of a situation, decision, or process. 2. The windings of a road or path. of taxes relevant to them. The book contains an introduction, information about the 2002 Job Creation and Worker Assistance Act, more on the 2001 tax cuts, 22 sections, a glossary of tax-related terms, an appendix that includes some IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. forms and publications and a frequently asked questions (FAQ (Frequently Asked Questions) A group of commonly asked questions about a subject along with the answers. Vendors often display them on their Web sites for use as troubleshooting guidelines. ) section with interesting case situations. It covers a wide range of information such as types of entities, recordkeeping, business taxes, working at home, fringe benefits fringe benefits, n.pl the benefits, other than wages or salary, provided by an employer for employees (e.g., health insurance, vacation time, disability income). , buying and selling a business and dealing with the IRS. (Daily has been forceful in handling the IRS, as attested to in his earlier books Stand Up to the IRS and Surviving an IRS Audit.) The guide offers practical solutions to a number of small business tax issues, as well as highlighted tips, sample business-tax returns and forms and many resource lists. Easy-to-read charts help support the text. Instructions for "Dealing with the IRS" are particularly informative. The author provides first-class information about handling audits, maintaining good records and documentation and the appeals process. He discusses various types of business entities, including C and S corporations, partnerships, LLCs, personal service corporations and family businesses. The portion about how to select a tax pro is on the mark and tax professionals would benefit from it, too. CPAs should recommend this well-written guide to their small business clients. It's also an ideal resource for CPAs themselves. STANLEY PERSON, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , of Person and Co., believes in reading for education and relaxation. His e-mail address See Internet address. e-mail address - electronic mail address is panda cpa@aol.com. |
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