Lower Your Taxes - BIG TIME! 2023-2024: Small Business Wealth Building and Tax Reduction Secrets from an IRS Insider, 9th Edition

Book description

The authoritative guide for navigating tax time, completely revised and updated for 2023-2024

With 200,000+ total copies sold, Lower Your Taxes - BIG TIME! has helped hundreds of thousands of taxpayers save money for 20 years. Now refreshed for 2023-2024, this go-to guide is more topical than ever and includes all the current information you need to know about the latest changes in tax code.

The ninth edition of Lower Your Taxes - BIG TIME! shows you how to save thousands of dollars—legally and ethically!—during tax time. It offers proven methods for taking advantage of the tax system to get a yearly subsidy of $5,000 or more back from the IRS—and bulletproof your records forever. Key topics include:

  • Advice on properly documenting any business deduction
  • Tips on starting a home-based business
  • Turning tuition, entertainment, orthodontia, and other expenses into huge deductions
  • The new standard deduction for married couples
  • Changes to business meal and lease deductions, vehicle purchases, and Health FSA contributions
Known for his engaging, humorous writing style, Botkin is a renowned expert who has worked for the IRS in multiple capacities; he knows the tax code inside and out.

Whether you’re a consultant, small-business owner, independent contractor, or just an individual seeking to protect your hard-earned nest egg, Lower Your Taxes - BIG TIME! provides everything you need to make next tax season painless, both emotionally and financially.

Table of contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Contents
  5. Introduction: Rich or Poor—Your Choice
  6. Part 1. Wealth-Building Tax Secrets for Small and Home-Based Business Owners
    1. Chapter 1. Why You Would Be Brain Dead Not to Start a Home-Based Business (If You Don’t Already Have One)
    2. Chapter 2. How to Deduct Your Meals and Some Employee Outings
    3. Chapter 3. How to Turn Your Vacation into a Tax-Deductible Write-Off
    4. Chapter 4. Income Shifting and Income Splitting: One of the Greatest Single Wealth-Building Secrets
    5. Chapter 5. How to Turn Your Car into a Tax-Deductible Goldmine
    6. Chapter 6. Home Office: The Misunderstood Key to Saving $15,000 Every Five Years
    7. Chapter 7. Beating the Dreaded IRS Audit
    8. Chapter 8. How to Shield Yourself from the IRS Weapon of Classifying a Business as a Hobby
  7. Part 2. How to Incorporate to Shelter Your Wealth
    1. Chapter 9. Finding the Best Corporate Entity for Your Business
    2. Chapter 10. Forming a Nevada Corporation or a Limited-Liability Corporation in Nevada
    3. Chapter 11. How to Eliminate up to 40 Percent of Your Social Security and Medicare Tax with an S Corporation
    4. Chapter 12. How to Get Assets and Money into a Corporation Tax-Free
  8. Part 3. Fringe Benefits Available to Small and Home-Based Businesses
    1. Chapter 13. Fringe Benefits You Will Love, Part 1
    2. Chapter 14. Fringe Benefits You Will Love, Part 2
  9. Part 4. Miscellaneous Tax Strategies
    1. Chapter 15. The Four Most Overlooked Real Estate Tax Deductions in America
    2. Chapter 16. Making Colleges Less Expensive with Tax Planning
    3. Chapter 17. Tax Planning for Stock and Bond Investments
    4. Chapter 18. Trader versus Investor: The Best-Kept Secret Around
    5. Chapter 19. Tax Scams and Other Shams
    6. Chapter 20. Highlights of the New Tax Cuts and Jobs Act Legislation (Updated)
    7. Chapter 21. The Top 10 Tax Questions
  10. Appendix A: 2022 Tax Rates
  11. Appendix B: How to Find a Good Accountant
  12. Appendix C: Health Savings Account
  13. Index

Product information

  • Title: Lower Your Taxes - BIG TIME! 2023-2024: Small Business Wealth Building and Tax Reduction Secrets from an IRS Insider, 9th Edition
  • Author(s): Sandy Botkin
  • Release date: December 2022
  • Publisher(s): McGraw-Hill
  • ISBN: 9781265046729