Barbara Weltman 
J.K. Lasser’s Small Business Taxes 2022 
Your Complete Guide to a Better Bottom Line

A complete guide to taxes for small businesses, brought to you by the leading name in taxes

The 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 filing

Small 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.

Tabella dei contenuti

Preface v

Introduction ix

Part 1 Organization 1

1. Business Organization 3

2. Tax Year and Accounting Methods 36

3. Recordkeeping for Business Income and Deductions 51

Part 2 Business Income and Losses 61

4. Income or Loss from Business Operations 63

5. Capital Gains and Losses 95

6. Gains and Losses from Sales of Business Property 113

Part 3 Business Deductions and Credits 125

7. Employee Compensation: Salary, Wages, and Employee Benefits 127

8. Travel, Meals, and Gift Expenses 164

9. Car and Truck Expenses 186

10. Repairs, Maintenance, and Energy Improvements 209

11. Bad Debts 225

12. Rents 236

13. Taxes and Interest 246

14. First-Year Expensing, Depreciation, Amortization, and Depletion 261

15. Advertising Expenses 294

16. Retirement Plans 300

17. Casualty and Theft Losses 339

18. Home Office Deductions 353

19. Medical Coverage 371

20. Deductions and Tax Credits for Farmers 391

21. Qualified Business Income Deduction 402

22. Miscellaneous Business Deductions 416

23. Roundup of Tax Credits 450

Part 4 Tax Planning for Your Small Business 463

24. Income and Deduction Strategies 465

25. Distributions from Your Business 479

26. Tax Strategies for Opening or Closing a Business 483

27. Tax Strategies for a Sideline Business 495

28. Tax Strategies for Multiple Businesses 499

29. Alternative Minimum Tax 504

30. Other Taxes 509

31. Filing Tax Returns, Paying Taxes, and Making Refund Claims 527

32. Retirement and Succession Planning 541

33. Working with CPAs and Other Tax Professionals 549

34. Handling Audits with the IRS 553

Appendix A. Information Returns 559

Appendix B. Tax Penalties 566

Appendix C. Checklist of Tax-Related Corporate Resolutions 572

Appendix D. List of Dollar Limits and Amounts Adjusted for Inflation 574

Index 577

Circa l’autore

BARBARA WELTMAN is an attorney and a nationally recognized expert in taxation for small businesses, as well as the author of many top-selling books on taxes and finance, including J.K. Lasser’s 1001 Deductions & Tax Breaks. She is also the publisher of Idea of the Day¯® and Big Ideas for Small Business¯®, a contributor to SBA.gov, and quoted regularly in major publications (including the New York Times, the Wall Street Journal, and Consumer Reports). Visit her at www.Big Ideas For Small Business.com.