Product Description

Tax deductions are essential to any business, but even more so when your office is also your home. You can spend thousands on an accountant -- or you can turn to Home Business Tax Deductions and do it yourself!

Home Business Tax Deductions will help you write off:

*your home office *start-up expenses *operating expenses *vehicles *travel *entertainment *meals *health insurance *medical bills *inventory *equipment *and much more

Home Business Tax Deductions is comprehensive yet easy to read, with many interesting and relevant examples. It also provides basic information on how different business structures are taxed and how deductions work. Best of all, it keeps you on the straight and narrow, helping you avoid run-ins with the IRS.

Product Details

• Amazon Sales Rank: #1001370 in Books
• Published on: 2004-09-30
• Original language: English
• Number of items: 1
• Dimensions: 1.00" h x 7.00" w x 9.00" l, 1.70 pounds
• Binding: Paperback
• 250 pages

Review
"Fishman translates complicated tax-law jargon into words you can understand and apply to your home-based business without a CPA.... -- Paul Tulenko,syndicated business columnist

Review
"Translates complicated tax-law jargon into words you can understand and apply to your home-based business without hiring a CPA...."

Review
"Full of exactly the sort of tips that business owners usually turn to their accountants for..."

Customer Reviews

Outstanding - more than paid for itself.
I wish I'd had this before I started my business. Plain english explanations and chock full of good tips. This book more than paid for itself the first day!

If you are starting a business in your home, you NEED this book. Especially if you find TAX laws confusing this will be an immense help. Preferably read it before you officially start. It will save you a bundle.

Indexing is excellent; very easy to find what you want and the explanations are clear and concise.

Definetly recommended.

The Written Rules and the Real Rules in Plain English
This book starts off with a very good description of what this book is all about: John and Jane both gross $50,000 a year. John gets $40,000 after taxes, Jane gets $45,000. The difference - John works for someone and goes into work. Jane works at home and gets to deduct her home office expenses.

The IRS allows you to deduct your expenses of maintaining a home office. At the same time, the IRS rules are fairly comples, and home office expenses are often overstated or subject to outright fraud. So the IRS tends to look at them fairly carefully, they have been known to come to your house to see what your office looks like.

This book, updated to be current for 2006, explains the rules as written down, the rules as actually followed and gives you some tips as to what you should, shouldn't, must, and mustn't do. Beyond the official rules, which are messy enough, there are more or less unknown rules, i.e. computer software that you buy is written off one way (well actually two or three ways), software you create, either for yourself or for sale, is handled quite differently.

This book is well written, simple to read and up to date with current law.

Great help for Schedule C and 8829
I'm working on my schedule C and 8829 and every so often I get to a question I don't understand. I go to the IRS instructions and their web site and it's as clear as used motor oil. It's enough to drive you insane.

Picked up this book and it's spelled out in plain English. No need to read a passage five times to understand.

As others have stated, you need this BEFORE you start your business and you need it a year before you do your taxes. In other words, it will help you along with your 2006 return and you can learn from it on how to do a better job for 2007 by keeping the right documents and receipts in order to get even bigger legitimate deductions. I know I wish I'd had this book last year!

With that said, this is not a line-by-line assistant for Schedule C and the 8829 which I wish it was at times. There are just times when the IRS uses a specific term on a specific line and it would help to have a layman's definition at hand. I didn't get that with this book. Nonetheless, it's been one of the best sources of information I've found for doing one's self employment tax forms.