The Small Business Owner's Tax Guide – What Every Small Business Owner Must Know About Reducing Taxes
Taxes, taxes, taxes. They are a fact of life, especially a business life. Many small business owners overpay taxes each and every year because they are not educated on all of the possible allowable tax deductions they can take. They don't plan their expenses properly to maximize their deductibility. No one should overpay taxes -- ever.
The tax laws are meant to be followed, just like any other law, so if you are allowed to take a deduction, doesn’t it make sense that you would take it? The wealthy pay a lot less in taxes than you do because they know the rules. And the biggest rule of all is: you need to own a business and then take full advantage of the tax savings allowed. Why don’t you? Because you haven’t learned the rules. That ends today.
Here’s a book, written in easy-to-understand English (not IRS double-speak) that explains many of the rules and gives you tips and suggestions on how you, too, can deduct, deduct, deduct. Do you work out of your home? Are you clear on how to qualify for the home office deduction? Are you deducting a proportion of every expense that could be allocated to your business? The IRS reports that there over 300 expense categories for a home office, but most businesses take less than 20 deductions. The IRS says all “ordinary and necessary” expenses you incur in operating your business are tax deductions. Interestingly enough, the IRS has never actually defined “ordinary” or “necessary.” So sometimes only the actual business owner can know if the expense is ordinary and necessary. Proper record-keeping and having the right tax-saving mindset can help you maximize the value of your tax deductions, tax credits, and tax deferral strategies, dramatically increasing your savings. It’s your money. Learn how to keep more of it in your pocket. (Oh, and the cost of this book … it’s deductible!)
About Katryna Johnson (Charleston, South Carolina Author)
Katryna Johnson, J.D., aka Trina, has over 25 years of corporate and entrepreneurial work experience. She has risen to executive levels in the corporate world and has built and managed her own law firm and a consulting practice. Her passion for helping women achieve came out of seeing so many of her law clients broken and demoralized after divorce. She began helping them build confidence, take responsibility for their lives, and launch businesses. Her greatest satisfaction is when a woman calls or emails her with great news that they have landed a juicy new project or just made a huge sale.
She is the author of Killer Marketing Strategies, The Small Business Owner's Tax Guide, and The Quickest Way to Business Credit, available through Kindle, Amazon and several major book retailers.
Trina is the founder and CEO of Mirelli Entrepreneur Training for Women, a membership-based women’s organization bringing together powerful like-minded women who want to connect, learn, grow and prosper through workshops, conferences, networking events, collaborations and more. She wholeheartedly believes that a community of women who step into their power and help other women succeed will change this world.