Don't Let the IRS Destroy Your Small Business: Seventy-Six Mistakes to Avoid

by Michael Savage

Book Overview

In this lively book, veteran tax attorney Michael Savage provides essential tax advice to small business owners, many of whom pay exorbitant tax fees for mistakes that may have easily been avoided. Without staff attorneys at their disposal, small businesses can get into big financial trouble, not out of dishonesty, but because they don't know where the potential tax landmines lie.Concise, practical and irreplaceably instructive, Don't Let the IRS...

• Format: Paperback
• Language: English
• ISBN: 0201311453
• ISBN13: 9780201311457
• Release Date: December 1997
• Publisher: Basic Books (AZ)
• Length: 192 Pages
• Weight: 0.50 lbs.
• Dimensions: 0.6" x 5.4" x 8.3"

Customer Reviews

Excellent Text

Simply an excellent little book, concise and written in a very clear format. Indeed, not making just one of the many mistakes the author comments upon could save your business thousands in taxes, fines and penalties.

Great book - concise and helpful

This book outlines 76 ways that small businesses often get in trouble with the IRS. A lot of these mistakes are very tempting to make -- in fact, one can argue that it's the tax law that's the problem in many cases, not the business practice. Nonetheless, the author makes clear the IRS position on these mistakes, and shows how damaging the mistakes can be when the IRS wins in tax court over the business owners.Every small business owner should read this book. It's remarkably easy to scan and absorb, though the topics are often quite complex at their root. This book cuts through the complexity and makes clear what the dangers are. As the author writes in the introduction, "If things go wrong, it gets expensive. For this reason, you should know *where* things go wrong. Because usually they go wrong in the same place. To see your taxes doubled because you made the same mistake that thousands of other people made before you does not make good business sense."

Insightful Info about All Areas of the Tax Code

All around great advise that covers practically every area of the tax code for a small business. My accountant can always answer a specific question but he has never put all my posible tax issues into one big picture. This book does that! It covers all the major areas of the tax code such as paying employees vs. contractors, entertainment and meal expenses, retirement plans, loans, and S-Corporations. In all these areas are descriptions of the tax law, how the IRS enforces it, and what can go wrong.Ignore the low ratings from the tax anarchist. This book is 5 stars!

Trustworthy tax advice without the meter running

As sole proprietor of a small business for over twenty-five years I thought, as others may, that I was reasonably familiar with the tax minefield. But was 'reasonably familiar' really good enough? Was I missing anything? The advice Michael Savage offers in his book has given me a measure of security I never imagined possible without a face to face meeting with a tax attorney. Mr. Savage prepares the small business owner for the journey through the tax minefield with a clear, readable, and trustworthy checklist for diligence. Even those who believe that they have already charted a safe course can benefit from the comfort of a confirming expert. There's good stuff here for small business owners of every description.

A must-read for small business owners

This is a book that will save you pain and heartache in any battle with the IRS or state taxing authorities. Learn about the expensive mistakes you can make trying to take shortcuts in managing payroll and other tax related expenses.If you hire people, if you claim T & E deductions, if you try to maximize the benefits of owning a business, take a few minutes to read Savage's relevent insights.The book is set up as an easy read; go through the stuff you really need now and go back to the other information later.My accountant charges me $100 an hour and this $12 book saved me more money in the first few chapters than my accountant did all last year.