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A complete guide to taxes for small businesses, brought to you by the leading name in taxesThe over 30 million small businesses in America are the essential backbone of the American marketplace. J.K. Lasser's Small Business Taxes 2022: Your Complete Guide to a Better Bottom Line helps owners save as much as possible on taxes. If you own a small business, this comprehensive guide provides a pathway to quickly determine your tax liability and what kind of tax relief is available to you, down to the nitty gritty--even going so far as to show where to claim deductions on the IRS forms.Barbara Weltman brings her expertise to this topic, as a nationally recognized specialist in taxation for small businesses. Filled with tax facts and planning strategies, this guidebook is the ideal tool to help small business owners make business decisions on a tax-advantaged basis. Small Business Taxes 2022 also provides readers with:* A complete listing of the available business expense deductions and tax credits, plus what's needed to qualify for them* The most up-to-date information on current tax law and procedures, including information on the American Rescue Plan Act (ARPA) and the Consolidated Appropriations Act, 2021 (CAA)* A heads up on changes ahead to optimize tax planning* Sample forms and checklists to help you get organized and prepare you to submit the most complete and proper filingSmall Business Taxes 2022 uses concise and plain English to help provide small business owners and their advisers a detailed overview on the tax rules they need to know.

J.K. Lasser's Small Business Taxes 2022: Your Complete Guide to a Better Bottom Line

Preface vIntroduction ixPart 1 Organization 11. Business Organization 32. Tax Year and Accounting Methods 363. Recordkeeping for Business Income and Deductions 51Part 2 Business Income and Losses 614. Income or Loss from Business Operations 635. Capital Gains and Losses 956. Gains and Losses from Sales of Business Property 113Part 3 Business Deductions and Credits 1257. Employee Compensation: Salary, Wages, and Employee Benefits 1278. Travel, Meals, and Gift Expenses 1649. Car and Truck Expenses 18610. Repairs, Maintenance, and Energy Improvements 20911. Bad Debts 22512. Rents 23613. Taxes and Interest 24614. First-Year Expensing, Depreciation, Amortization, and Depletion 26115. Advertising Expenses 29416. Retirement Plans 30017. Casualty and Theft Losses 33918. Home Office Deductions 35319. Medical Coverage 37120. Deductions and Tax Credits for Farmers 39121. Qualified Business Income Deduction 40222. Miscellaneous Business Deductions 41623. Roundup of Tax Credits 450Part 4 Tax Planning for Your Small Business 46324. Income and Deduction Strategies 46525. Distributions from Your Business 47926. Tax Strategies for Opening or Closing a Business 48327. Tax Strategies for a Sideline Business 49528. Tax Strategies for Multiple Businesses 49929. Alternative Minimum Tax 50430. Other Taxes 50931. Filing Tax Returns, Paying Taxes, and Making Refund Claims 52732. Retirement and Succession Planning 54133. Working with CPAs and Other Tax Professionals 54934. Handling Audits with the IRS 553Appendix A. Information Returns 559Appendix B. Tax Penalties 566Appendix C. Checklist of Tax-Related Corporate Resolutions 572Appendix D. List of Dollar Limits and Amounts Adjusted for Inflation 574Index 577