Deduct It!: Lower Your Small Business Taxes

Reduce your taxes

Deduct It! shows you how to maximize your business deductions--quickly, easily, and legally. Whether your business is just starting or well established, this book is indispensable to your financial success. It covers deductions for:

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• start-up and operating expenses
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• travel and meals
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• home offices
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• medical expenses
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• equipment and inventory
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• and more.
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Learn the rules for deducting net operating losses, state income taxes with a pass-through entity, and business bad debts. This book also has updated information on Section 179 expensing and bonus depreciation, as well as everything you need to know about the 20% pass-through deduction. Easy to read and full of real-world examples, Deduct It! will pay for itself many times over--especially if the IRS comes calling.

This edition has an updated section on tax credits and deductions for electric vehicles as well as guidance on filing a beneficial ownership information report with the federal government.