There are only two certain things in this life: death and taxes. While everyone has to pay their own individual taxes, business owners have the added task of filling out forms for their enterprise as well. While a good book does not replace actual financial help from an accountant or financial manager, consider reading these books to help you untangle the sometimes complicated web of the American tax code.
“J.K. Lasser’s Small Business Taxes 2018”
The weighty, 720-page book “J.K. Lasser’s Small Business Taxes 2018” was written by Barbara Weltman, an attorney and advocate for small businesses and entrepreneurs. The Small Business & Entrepreneurship Council (SBE) has recommended several of the past editions of this book, and Weltman has written updates for each tax year since 2011. Before that she handled other tax guide books for J.K. Lasser that dealt with individual taxes. Reviewers and users hail Barbara Weltman’s plain-English approach to taxes and how her books not only list possible deductions businesses can use, but also the documentation required to claim them.
If the “J.K. Lasser’s Small Business Taxes 2018” tome is too general for your particular business, there are other more specialized editions available from online retailers.
“Small Time Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes, and Stay Out of Trouble”
The book “Small Time Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes, and Stay Out of Trouble” by Bernard B. Kamoroff might have a mouthful of a name, but it is a great guide to taxes and general accounting according to PaySimple.com. As the name implies, Kamoroff’s book is probably best suited for the newer entrepreneur looking to get started on the right foot. However, it certainly doesn’t hurt for even the most seasoned entrepreneur to take a look to make sure everything is still on track. Kamoroff is a Certified Public Accountant (CPA), so readers can rest easy knowing that his advice on all things bookkeeping and taxes comes from someone who both studied this material extensively and has been professionally certified.
“Accounting and Finance for Your Small Business”
While “Accounting and Finance for Your Small Business” by Steven Bragg and Edwin Burton is not specifically about taxes, this book gives you the accounting skills you need for a successful tax filing. Whether you or an employee handles your business’ books, said books need to be kept properly to know how much you actually owe the IRS and how much to predict in future earnings. This guide covers everything from basic accounting to what to do if you detect fraud or need help managing your product. It is recommended by the business software experts at Capterra, but they do warn that this is a dry book. You should have a good cup of coffee before you hunker down with it.
Consult your tax advisor for the applicability of any advice to your individual tax situation.