Deduct It!: Lower Your Small Business Taxes 8th Edition

The book was okay. It was organized and presented in a straight forward manner; it just did not have anything that was unique and helpful. I guess I was expecting something a little more advanced than the simple lists that are presented in the book.

I've purchased five of these Nolo books that are helpful for Landlords and they are a wealth of information specific to the topic. They are great for resources because they are carefully indexed, so you can go right to the topic you need. But, they are not bad to just read and pick up on something that you missed - especially important with deductions because you don't want to miss a thing! They aren't dry, textbook reading.All have been well organized and very helpful - as titled on my review. Also, as titled, they can overlap each other in the information covered. For example, this book and Every Landlord's Tax Deduction Guide have much of the same information. Even though they are both great books, it's likely you won't need both. I'm a relatively new landlord - okay - brand new. I believe these books have given me the foundation and supplied the information that I need to manage my business well. Tons of things I would never have dreamed of. For example, did you know that carpet was considered personal property? Neither did I! More importantly, I found out that if I bought carpet this year, because of a deduction ending in 2012, I can depreciate 50% of the cost of that improvement in one year! That's almost like getting free stuff! These books are going to save me a bundle!

I worked my way through four tax books oriented toward small businesses, and this one was the clear winner if you operate from a home office -- better even than the NOLO books ostensibly for those running a business from the home. I picked up several office-at-home deduction tips that added up to quite a bit.Good advice, clear writing.What's missing: there is not nearly enough on multi-member LLC/partnership tax tips; a few general items, but given how many small multi-member LLC's there are out there, this is a gap. There also is not any helpful information related to timing of reimbursements -- how is it handled from a tax perspective if a member purchases something in November, but doesn't submit an expense report and get reimbursement until January?I liked this one in the print edition, and decided to buy it in the kindle format to make searching easier.

This book is a must small business owners because it can improve their bottom line. Although it provides fairly good overview of tax deudctions, it should not be used as a comprehensive reference for tax professionals.The book is a relatively light read in a highly readable format. Each tax deduction has a good overview and a case example to boot. It isn't, however, an answer to complex tax questions which the book willingly acknowledges should be taken to a tax professional. For most business owners, this book should be sufficient for most of the tax deduction questions they may have. This book certainly answered all of mine.The book provides valuable information on the probability of an IRS audit (don't form sole proprietorship if you want to avoid an audit) and how one can minimize one's chances of an audit.

If you're a small business owner, this book is essential for planning your tax deductions for the year as well as guiding you through your tax filing. It's written in the clear language of Nolo books with a good amount of examples and easy to understand flowcharts to help you determine which deductions are applicable to your situation. The tables for figuring out how to depreciate your possessions were also very useful.PROS:+ Clear, concise language with good examples, tables, and flowcharts+ Helps you during tax time as well as tax planning for the year ahead+ Completely updated for the current year+ Helps you avoid auditsCONS- There isn't much coverage of state to state tax filing differences.

What's not to like about a 15 year old book on tax advise?

I ordered the Taxes for Dummies book too, but this book provides information in a way that was better for me to assess and it goes deep into the details about specific deductions. I learned SO MUCH and hope to better financially because of it.

It's so helpful to gain a general understanding of what you may deduct. COGS is pretty clear, we all know what goods we sell, but other areas like travel and meals deductions, office expenses, etc. are far less clear to most of us.People say, "Ask your accountant", but you are not going to ask about every little purchase you make before you make it. Much better to read this and gain an understanding for yourself.This book is detailed enough to be useful, yet simple enough for a non-CPA to understand. I buy the new edition every year.