30 Minutes With A Certified Public Accountant: Effective Tax Planning for the Microbusiness
Posted: Thursday, July 09, 2009
by ngoldman
Norm Goldman
Author: Michael T. Hanley
Publisher: Legwork Team Publisher:
ISBN: 978-0-5780-1999-4
Michael T. Hanleys 30 Minutes With A Certified Public Accountant: Effective Tax Planning for the Microbusiness is structured to follow the US Internal Revenue Code. And although the guidebook is written for businesses with annual sales or annual revenue of less than one million dollars (micro-businesses), many of the concepts and principles can easily be applicable to enterprises with annual sales as high as ten million dollars. (According to a recent US census there are approximately twenty-seven million of these micro-businesses representing about ninety-nine percent of all businesses in the USA).
The first thing that readers are likely to notice about this paperback is its compactness, however this in no way takes away its usefulness, as it does cover a great deal of turf. Hanley, with an eye to economy, effectively boils down to its bare essentials existing tax information that will not drown the reader in mundane and sometimes esoteric detail. Small business owners are thus assured that they will not encounter information overload and they easily will be able to retain the most useful and essential information about a particular topic.
After reading this practical easy-to-read guide, the businessperson is without doubt in a better position to understand and discuss intelligently with his or her CPA a variety of subjects that are covered and examined in the guidebook. These include sound and basic advice pertaining to selecting the best business structure, the most tax efficient way of lending money to your business, rules pertaining to accelerated depreciation, why keeping jobs within the USA saves taxes, leasing of appreciating assets to your business, the Alternative Minimum Tax, qualifying on-premises employee meals, tax free education, buy-sell agreements, and selling your business tax- free.
As tax laws are often modified or repealed it is essential that small business owners keep up-to-date. Consequently, owners of the book are entitled to receive free annual updates and all they have to do to take advantage of these updates is to complete the subscription form at the back of the book. These updates can be sent by regular mail, fax or email.
Although reading this book will not instantaneously make you a small business-tax expert, nonetheless, you definitely will be in a better position to appreciate how important it is to have proper business tax planning. It should be pointed out that the book does not replace a qualified CPA and one should be consulted in order to reap maximum advantages.
Click Here To Read Norm's Interview With Michael Hanley CPA
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