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J.K. Lasser's small business taxes 2023 : your complete guide to a better bottom line
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Comprehensive guide to small business tax write-offs and strategies from a leading name in tax

Small business owners in the US face enough challenges without overpaying tax. Despite this, millions of small businesses miss out on crucial deductions, tax credits, and tax-saving moves every year, resulting in higher-than-necessary tax bills. In J.K. Lasser's Small Business Taxes 2023: Your Complete Guide to a Better Bottom Line, renowned attorney and small business advocate Barbara Weltman offers a thorough and exhaustively researched roadmap to legally minimizing your tax liability and maximizing your deductions and credits.

In the book, you'll find tax facts and planning strategies that help you make business decisions in the most tax-efficient way possible. You'll also discover:

A complete list of the business expense deductions and tax credits available to you and what you need to do to qualify for them Up-to-date info on current tax law and procedure, including information on the latest relevant legislation Guidance on avoiding tax penalties and minimizing audit risk A heads-up on coming changes to help you plan for next year's taxes Sample forms and checklists to help you get organized and help you stay tax compliant A free e-supplement that includes the latest developments from the IRS and Congress

A concise and plain-English guide for every small business owner in America, Small Business Taxes 2023 is the detailed and accessible tax overview you've been waiting for.

Table of Contents
Prefacep. v
Introductionp. ix
Part 1Organizationp. 1
1Business Organizationp. 3
2Tax Year and Accounting Methodsp. 36
3Recordkeeping for Business Income and Deductionsp. 51
Part 2Business Income and Lossesp. 61
4Income or Loss from Business Operationsp. 63
5Capital Gains and Lossesp. 95
6Gains and Losses from Sales of Business Propertyp. 113
Part 3Business Deductions and Creditsp. 125
7Employee Compensation: Salary, Wages, and Employee Benefitsp. 127
8Travel, Meals, and Gift Expensesp. 160
9Car and Truck Expensesp. 182
10Repairs, Maintenance, and Energy Improvementsp. 205
11Bad Debtsp. 221
12Rentsp. 232
13Taxes and Interestp. 242
14First-Year Expensing, Depreciation, Amortization, and Depletionp. 257
15Advertising Expensesp. 290
16Retirement Plansp. 296
17Casualty and Theft Lossesp. 334
18Home Office Deductionsp. 348
19Medical Coveragep. 366
20Deductions and Tax Credits for Farmersp. 385
21Qualified Business Income Deductionp. 396
22Miscellaneous Business Deductionsp. 410
23Roundup of Tax Creditsp. 444
Part 4Tax Planning for Your Small Businessp. 457
24Income and Deduction Strategiesp. 459
25Distributions from Your Businessp. 473
26Tax Strategies for Opening or Closing a Businessp. 477
27Tax Strategies for a Sideline Businessp. 490
28Tax Strategies for Multiple Businessesp. 494
29Alternative Minimum Taxp. 499
30Other Taxesp. 504
31Filing Tax Returns, Paying Taxes, and Making Refund Claimsp. 522
32Retirement and Succession Planningp. 535
33Working with CPAs and Other Tax Professionalsp. 543
34Handling Audits with the IRSp. 547
Appendix AInformation Returnsp. 553
Appendix BTax Penaltiesp. 561
Appendix CChecklist of Tax-Related Corporate Resolutionsp. 567
Appendix DList of Dollar Limits and Amounts Adjusted for Inflationp. 569
Indexp. 573
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