Product Description

Product Details

• Amazon Sales Rank: #55352 in Books
• Published on: 2005-01-01
• Number of items: 1
• Binding: Paperback
• 240 pages

From the Back Cover
Save Time, Anxiety, Stress-and Money!

Whether you call yourself a sole proprietor, freelancer, subcontractor, or free agent, if you're self-employed or planning to start your own business, you need this book. With straightforward language, concrete examples, and easy-to-use worksheets, author and accountant June Walker tackles the most vexing problems facing the self-employed: inadequate recordkeeping and tax ignorance. Her Most Simple System has been designed for you, the indie. It is simple, quick, and audit proof-a recordkeeping method that works, and a guide through the tax maze that ends with more money in your pocket, and less money going to the government.
Armed with the author's unique copyrighted worksheets, you'll capture every single business deduction, keep concise records so that accounting and tax preparer fees are reduced, and-best of all-do it quickly and easily.
Self-employed Tax Solutions is written for bright, intelligent people who don't understand the tax implications of their solo ventures. This indispensable book will help you survive and succeed in a business environment where the tax laws and regulations are structured not for indies but for corporations and employees.

You'll learn . . .
how to prove to the IRS that your endeavor is a business, not a hobby
how start-up costs differ from other deductions
how to deduct travel expenses
when a gift to Mom can be a legitimate business deduction

how to make estimated tax payments
the advantages of sole proprietorship
why you should not incorporate
hundreds of vital details about taxes, finances, and recordkeeping

About the Author
June Walker has been a financial and tax consultant specializing in the self-employed for more than two decades. Her clientele includes people in the arts, psychologists, computer techies, carpenters, coaches, and a broad range of entrepreneurs throughout the United States and Europe. A sought-after speaker, June conducts popular seminars focusing on educating the independent professional in financial basics, tax choices, and quick and easy recordkeeping.

Excerpt. © Reprinted by permission. All rights reserved.
The self-employed are regarded as exotic in their needs. They are neglected. To begin with, the tax laws are written without them in mind, as if they make up a minor factor in American society -- even though they number more than 25 million! Much of the advice given to the self-employed is either wrong or inappropriate for their level of business sophistication. For example, the IRS defines a legitimate business expense as one that is "orginary and necessary" to your profession. But what is ordinary and necessary to a sculptor?

++++++

Over the river and through the woods to Grandmother's house goes Pat Personal Trainer. Gram just bought a color laser and it's the cheapest way for Pat to print his new brochures. He leaves Friday afternoon. The bus gets him there in time for dinner. He works at the computer all the next day until the wee hours. (He's sure these new brochures will get him lots of customers.) Very early the next morning he kisses Grandma good-bye and heads back on the bus. Pat was away from his home, for business, overnight. It was BUSINESS TRAVEL. Therefore he may deduct travel expenses.

If graphic designer Victor Visual called his business, the "Double V Studio," most people would pay him with checks made out to his business name. If his bank does not allow both names--Victor Visual and Double V--on his account, he'll have to have an account in the name of his business in order to deposit his checks. The simple (and money-saving) alternative is for Victor to open a savings account in his business name, deposit checks into it, and then have the bank do an automatic sweep of the funds from his savings to his checking account whenever the funds reach a certain amount specified by Victor.

Customer Reviews

Full of useful information!
This book is head and shoulders above most other books on the market of its kind. Most books gloss over and repeat what is freely available in the tax booklets; this book explains and expands on that information. Plus, it gives you tips on how to plan ahead so as to take legal advantage of the tax opportunities offered within the tax code. It is well organized and a certain reliable resource for self employed individuals.

Author is windy. Book is OK. There are better out there
This book was OK. I agree with the alliteration criticism of the other reader. Too much like fantasy. Too many references and suggestions that you MUST get a professional preparer or take your records to a professional preparer/accountant. Why bother reading this book if I wanted to pay someone else to do my taxes? The author's "Most Simple System" is a re-hash of Fluery's "No Entry Accounting" system in his book from years ago called "Small Business Survival Guide" only Fluery takes it a step further and recommends you doing your own taxes. Ms. Walker takes you to the brink of this but falls short. You've already done 95% of the work with her "system" so why not finish it? I recommend you start with this book then read "Small Business Survival Guide" and you'll be in good shape and not have to pay an accountant to do your taxes. Fluery's book is out of date but the Schedule C hasn't changed all that much since that book was published. Get a new version of Sch. C, combine the info from both books and you are all set.

Finally, this book repeats itself over and over. It could be half as long.

Simply The Best
By far the best self-employed book on taxes that I have read to this day! A must read for anyone who has been in business and would like to understand better what the CPA is saying, and a definite must for anyone thinking about being self-employed.