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Tax Planning for Your Business

Tax Planning for Your Business

Author: W. Rod Stern; Carol Brittain
Publisher: Entrepreneur Press
ISBN: 9781599181370
Published In: November 2007
Format: Paperback + CD-ROM , 304 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Valuable Tax-Saving Strategies

Nearly all the decisions you make as a business owner have an impact on the amount of taxes your business will incur. Selecting a business structure, determining profit-sharing strategies, taking a salary, hiring employees and independent contractors, leasing and buying equipment' all these common tasks can greatly impact your business's tax burden. Two practicing tax attorneys present a framework for you to weigh the impact of specific tax-saving mechanisms against any possible impact on your business's primary purpose, helping you develop a tax-planning strategy that will follow you from startup through retirement.

W. Rod Stern and Carol A. Brittain cover:

The tax implications of corporations, LLCs, partnerships and sole proprietorships
The impact that tax planning can have on bank financing and venture capital
Reducing your taxes through tax deductions and strategic money management
Maximizing compensation for you and your partners
Implementing compensation plans that help retain key employees and provide incentives for performance
Transition strategies for selling or closing your business

Implement efficient tax planning-without losing sight of the total picture-with these professional strategies.

Sample Documents and IRS Forms on CD-ROM!

Sample documents include:

Business Entity Tax Characteristic Comparison Chart
Business Entity Non-Tax Characteristic Comparison Chart
State-by-State Tax Form Websites
Fringe Benefit Chart
Retirement Plan Summary Chart
Record-Keeping Checklist
Miscellaneous Record-Keeping Forms
Sample Medical Reimbursement Plan

Plus essential IRS publications:

Your Rights as a Taxpayer
Employer's Tax Guide
Employer's Tax Guide to Fringe Benefits
Travel, Entertainment, Gift and Car Expense
Residential Rental Property
Business Expenses
Accounting Periods and Methods
Partnerships
Corporations
Investment Income and Expenses
Retirement Plans for Small Business
Starting a Business and Keeping Records
Business Use of Your Home
Passive Activity and At-Risk Rules
Understanding Your Employer Identification Number
Tax Issues for Limited Liability Companies

For 30 years, Entrepreneur has provided the most trusted business advice available to business owners. Our legal guides continue that tradition by offering current and cost-effective legal advice so you can resolve the business and legal issues you face on a daily basis. We also strive to help you identify when it's in your best interest to seek the personalized advice and services of a practicing lawyer.

W. Rod Stern is a partner at Murtaugh Meyer Nelson & Treglia LLP specializing in business, tax and estate planning. He has more than 20 years of experience as a corporate attorney and holds a master's degree in taxation law from New York University.

Carol A. Brittain has more than 20 years of experience specializing in business and corporate law. She holds an MBA from Thunderbird School of Global Management, ranked No. 1 in international business by The Wall Street Journal. She has taught courses at University of California Hastings College of the Law.