Maximize your bottom line with the nation's most trusted small business tax guide J.K. Lasser's Small Business Taxes 2019 is the small business owner's ultimate guide to a money-saving, stress-free tax season. Providing straightforward advice from the nation's most trusted tax expert on small business taxes, this book gives you the answers you need quickly, with clear, concise guidance. Updated to cover changes from the Tax Cuts and Jobs Act and other legislation, this edition also includes an e-supplement covering additional developments from Congress and the IRS to keep you fully up-to-date. A complete listing of all available business deductions and credits helps you identify those you qualify for, and includes critical information on dollar limits, recordkeeping requirements, and how to actually take the write-off—all the way down to the IRS form to use. Organizational and planning strategies help you get through the process quickly and with fewer headaches, and this year's changes to the tax laws are explained in terms of how they affect your filing. Keeping up with the intricacies of tax law and filing is a full-time job—but it's not your full-time job. You have a business to run. This book gives you the guidance you need in the time that you have so you can get taxes out of the way and get back to work. Learn which expenses qualify for deductions—and which ones don't Adopt a more organized recordkeeping system to streamline the filing process Explore small-business-specific strategies for starting or closing a business, running a sideline business, and operating in multiple businesses Decode the various forms and worksheets correctly with step-by-step guidance Audit-proof your return Review obligations for the “other taxes,” including payroll and excise taxes Every year, millions of small business owners overpay their taxes because they lack the time and expertise to make tax-sensitive business decisions throughout the year only to learn that it’s too late to act when it comes to tax time. Now you can put your money back where it belongs—in your business. J.K. Lasser's Small Business Taxes 2019 helps you take wise actions during the year and tells you how to file completely and accurately while maximizing your bottom line.

Table of Contents:
Preface vii Introduction xi Part 1 Organization 1 1. Business Organization 3 2. Tax Year and Accounting Methods 43 3. Recordkeeping for Business Income and Deductions 61 Part 2 Business Income and Losses 75 4. Income or Loss from Business Operations 77 5. Capital Gains and Losses 112 6. Gains and Losses from Sales of Business Property 134 Part 3 Business Deductions and Credits 149 7. Employee Compensation: Salary, Wages, and Employee Benefits 151 8. Travel, Meals, and Gift Expenses 192 9. Car and Truck Expenses 218 10. Repairs, Maintenance, and Energy Improvements 245 11. Bad Debts 265 12. Rents 279 13. Taxes and Interest 290 14. First-Year Expensing, Depreciation, Amortization, and Depletion 307 15. Advertising Expenses 347 16. Retirement Plans 355 17. Casualty and Theft Losses 399 18. Home Office Deductions 415 19. Medical Coverage 435 20. Deductions and Tax Credits for Farmers 457 21. Qualified Business Income Deduction 470 22. Miscellaneous Business Deductions 479 23. Roundup of Tax Credits 521 Part 4 Tax Planning for Your Small Business 535 24. Income and Deduction Strategies 537 25. Tax Strategies for Opening or Closing a Business 554 26. Tax Strategies for a Sideline Business 569 27. Tax Strategies for Multiple Businesses 574 28. Alternative Minimum Tax 581 29. Other Taxes 587 30. Filing Tax Returns and Paying Taxes 610 31. Retirement and Succession Planning 624 32. Working with CPAs and Other Tax Professionals 632 33. Handling Audits with the IRS 637 Appendix A. Information Returns 642 Appendix B. Tax Penalties 652 Appendix C. Checklist of Tax-Related Corporate Resolutions 659 Appendix D. List of Dollar Limits and Amounts Adjusted for Inflation 662 Index 667