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.
