Sharing Your Profits with Uncle Sam
In This Chapter
◆ Checking up on different kinds of taxes
◆ Seeing how your status as a sole proprietorship, partnership, or corporation affects your taxes
◆ Getting the most mileage from your business deductions, including a home office deduction
◆ Handling losses from your business operations
Say the word taxes and some people cringe or go blank. The IRS for many represents an intimidating and baffling presence—but one that every business owner must face. State taxing authorities bring their own brand of paranoia to the mix.
What can you do to face your fears and avoid the wrath of the IRS? Get smart. Learn what you need to know about taxes—the taxes you must pay, the returns you have to file. You’ll ...