AARP Digital Editions offer you practical tips, proven solutions, and expert guidance. Written in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year. Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow. Includes detailed coverage of the newest tax laws and IRS rules Reveals strategies that can help you run a tax-smart business all year long Contains comprehensive information on each deductible expense, including dollar limits and record-keeping requirements Offers clear instructions on where to report income and claim deductions on your tax forms Provides help with state taxes and a guide to information returns you may need to file Other titles by Weltman: J.K. Lasser's 1001 Deductions & Tax Breaks 2010 Owning a small business is a big responsibility. While many small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser's Small Business Taxes 2010, you'll quickly discover how.

AARP Digital Editions offer you practical tips, provensolutions, and expert guidance.Written in a straightforward and accessible style, this reliableresource offers a complete overview of small business tax planningand provides you with the information needed to make tax-smartdecisions throughout the year.Focusing on strategies that help you use deductions and taxcredits effectively, shield business income, and maximize otheraspects of small business taxes, this practical guide will show youhow your actions in business today can affect your bottom line froma tax perspective tomorrow.* Includes detailed coverage of the newest tax laws and IRSrules* Reveals strategies that can help you run a tax-smart businessall year long* Contains comprehensive information on each deductible expenseincluding dollar limits and record-keeping requirements* Offers clear instructions on where to report income and claimdeductions on your tax forms* Provides help with state taxes and a guide to informationreturns you may need to file* Other titles by Weltman: J.K. Lasser's 1001 Deductions &Tax Breaks 2010Owning a small business is a big responsibility. While manysmall business owners seek to improve their bottom line, fewrealize all the ways that both current and new tax laws can helpthem do so. With J.K. Lasser's Small Business Taxes 2010you'll quickly discover how.

Preface vIntroduction ixPart 1 Organization 11. Business Organization 32. Tax Year and Accounting Methods 343. Recordkeeping for Business Income and Deductions 51Part 2 Business Income and Losses 634. Income or Loss from Business Operations 655. Capital Gains and Losses 936. Gains and Losses from Sales of Business Property 113Part 3 Business Deductions and Credits 1257. Employee Compensation: Salary, Wages, and Employee Benefits1278. Travel and Entertainment Expenses 1589. Car and Truck Expenses 18910. Repairs, Maintenance, and Energy Improvements 21811. Bad Debts 23112. Rents 24313. Taxes and Interest 25414. First-Year Expensing, Depreciation, Amortization, andDepletion 26915. Advertising Expenses 30716. Retirement Plans 31417. Casualty and Theft Losses 34718. Home Office Deductions 36119. Medical Coverage 37720. Deductions for Farmers 39021. Domestic Production Activities Deduction 40222. Miscellaneous Business Deductions 40923. Roundup of Tax Credits 451Part 4 Tax Planning For Your Small Business 46324. Income and Deduction Strategies 46525. Tax Strategies for Opening or Closing a Business 48126. Tax Strategies for a Sideline Business 49127. Tax Strategies for Multiple Businesses 49528. Alternative Minimum Tax 50129. Other Taxes 50830. Filing Income Tax Returns and Paying Taxes 529Appendix A. Information Returns 539Appendix B. Checklist of Tax-Related CorporateResolutions 546Index 549