A clear and direct tax guide for small business owners, this book offers expert commentary on every step of the process of filing a sole proprietorship tax return. Whether owners tackle this task themselves or solicit the help of a professional, this resource offers analyses of individual income tax issues, an extensive glossary that demystifies tax lingo, and detailed discussions on issues of interest to small business owners. These issues include differentiating between personal and business expenses; maximizing deductions for auto, entertainment, depreciation, and home office expenses; handling employee benefit plans on tax returns; and what the IRS is likely to look for in an audit of business activities.
Susan M. Jacksack, J.D., was the author of the previous editions of this book. Paul N. Gada, J.D., LL.M., M.B.A., is an attorney who has more than 10 years of legal publishing experience primarily in state and federal tax issues. He lives in Riverwoods, Illinois.