Series: Small Business Tax Tips
Paperback: 104 pages
Publisher: CreateSpace Independent Publishing Platform (July 28, 2016)
Language: English
ISBN-10: 1535258888
ISBN-13: 978-1535258883
Product Dimensions: 5.2 x 0.2 x 8 inches
Shipping Weight: 6.1 ounces (View shipping rates and policies)
Average Customer Review: 4.7 out of 5 stars See all reviews (25 customer reviews)
Best Sellers Rank: #547,551 in Books (See Top 100 in Books) #80 in Books > Business & Money > Taxation > Small Business #179 in Books > Business & Money > Accounting > Bookkeeping #7275 in Books > Business & Money > Skills
What a great idea!Incidentally, you're paying a tiny price for this book - but it comes with $150 worth of couponsyou can use on Wayne Davies' consulting and tax return review services. Since he is a highlyexperienced tax professional - especially when it comes to Internet businesses (and affiliateprograms) that's a fabulous deal. OK, on to the book review.The Schedule C in your personal tax return is where you report all your business income and expenses.There are many complex issues that people who prepare their own tax returns typically get wrong.Wayne Davies did a remarkable job of making the concepts absolutely simple. Even depreciation,which as a tax professional (Enrolled Agent) and instructor I devote 2 hours to teaching. Waynebrushed aside the complexities and focused on the parts of the law that were simple to use.(He wisely recommended that if you prefer to deal with the more complex part of depreciation,you should take that to your tax professional.) Another thing that blew me away in that chapter is,that there is another area in depreciation that is so complex that tax pros have a special Facebookforum JUST for that specific issue. Wayne simplified that revision in the law so readers never realizehow complicated the rules are. He just makes it clear.I love this book. It's terrific, not just for amateurs, but I will be recommending it to my students, too!
If you are self-employed and looking for deductions to reduce your taxes, then this book is for you. It's got a whole lot of tips about things you an use to keep more of your money legally and ethically.Recommended.Richard G Lowe Jr is the author of over 20 books, including Focus on LinkedIn: Create a Personal Brand on LinkedInTM to Make More Money, Generate Leads and Find Employment (Business Professional Series Book 7).
A must read for small business owners.especially for new network marketers. An excellent overview of allowable tax deductions with recommendations of where to look if more detailed info is needed in complex areas such as: employee benefits, pension plans, and home office expenses. Don't expect your local tax-guy to save you, he's only as good as the info you give him.
I strongly urge all Schedule C filers to read this book, especially if you prepare your own returns like I used to. The clarity expressed by Wayne Davies is amazing. One can see that this is a book for help, not one to sell a service. Even if you have a tax professional prepare your returns, you will find information in this book that will help assist your self-employment record keeping. I'll bet that the cost will be worth it, probably hundreds or thousands times over. The author's last e-book, Small Business Tax Deductions Revealed, was more comprehensive for business owners in giving an overview of tax requirements and benefits, and is also a highly recommended read. I follow this author simply because I can understand what he's writing without being more confused than before I read it.
This little tax book explains the Schedule C in plain english... in just my forst skim through, I found deductions that I had not thought of. This is a must have tool in the Sole Proprieitor's toolbox! Highly recommended!
Having an excellent knowledge in accounting along with all types of income tax preparations, IRS problem solving, and business consulting over the last 35 years give me an excellent insight of the topics in this EXCELLENT Schedule C Tax Deductions written by the author. It is very well written and spelled out for those that have a lot of questions and now can get their answers through obtaining a better knowledge of why your Schedule C has to be prepared the way the tax law is written. I highly recommend this book - M Sawyer, AZ
I'm surprised more people are not utilizing the "The American Job Creation act of 2004" to take advantage of over 400 home business deductions to lower their personal taxes for a HUGE tax refund!
Have you ever been walking through an instruction manual—especially something like a software user guide—and as you’re going through it step by step, you say, “Yes! This is exactly the section I’m looking for. I’m completely stuck on this feature and thankfully, what I’m about to read is going to get me over the hump."Then, to your disappointment, you don’t get your answer. The manual ends up covering like 80% of “the thing” you’re stuck on—but skips the 20% where you still had questions. That’s annoying. …… but that’s NOT what you’ll find in this short tax-help book.That kind of scenario IS NOT how Davies sets things up; it’s obvious that he’s gone over this thing for years with clients and makes sure to cover your questions before you even ask them.For example: I’d be reading, thinking, “Okay, that’s good but what if… “ and as soon as I’d think such a thought, Davies had already revealed the answer at the end of the sentence or paragraph. Things like: "Important: Do not put your business name here; that goes on Line C.” Cool. I’ll read on and get to that, knowing it’s covered.I love it; this thing is the User’s Manual the IRS *should* hand out with the Schedule C. Davies breaks it down in a super simple and “conversational” way. Even that conversational delivery is nice; it helps squelch that naturally-occurring “stress” trigger when it comes to talking taxes.
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