Home Business Tax Deductions: Keep What You Earn would make a great addition to any home-office library. With plenty of real-world examples, this book is easy (and, dare I say enjoyable) to read. To be honest, I wasn’t looking forward to reading this title; I figured all the legal mumbo-jumbo would be a bore. Imagine my surprise when I found myself unwilling to put the book down at the end of my first reading session. I’d learned so much in just the first few chapters that I could hardly wait to see what the rest of the book held!

For example, I learned how to avoid the tax tragedy of being classified by the IRS as a hobby instead of a legitimate business. In fact, if you claimed any business deductions and were later found to be a hobby, you could find yourselves thousands of dollars in debt to Uncle Sam, thanks to back taxes and penalty fees. But this book gives very easy-to-implement techniques that will help you prove that you are, in fact, a business.

In addition, you are also given the answers to common questions about what constitutes legitimate business deductions, from business lunches (does it count if you talk about business and pleasure?) to the cost of gas used to drive to grocery store. Yes, you can deduct the gas if you used the trip to purchase business supplies (such as paper or envelopes) along with your family’s groceries.

You’ll also learn the ins and outs of the all-important home office deduction, along with the tax requirements of hiring workers, from full-fledged employees to independent contractors. Finally, this book gives ten tips to staying out of trouble with the IRS.

This title translates complex tax laws into concepts that those of us who didn’t attend law school can easily understand.

Home Business Tax Deductions is updated yearly to reflect changes to tax laws. The 5th Edition, just which will be published in mid-November of 2008, contains 510 pages. The paperback version can be pre-ordered on Amazon.com for $23.09.

Click here to buy the book!

Do you have any thoughts, queries, or feedback on Home Business Tax Deductions? Share your comments or questions by replying directly to this thread!

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Tammi Metzler ~ The Write Associate
Free call: "How to Write Email Subject Lines That Grab Attention!"

Thanks Tammi!
I read this title too in an effort to learn more about just how much of our expenses we can deduct - I learned a lot and was amazed that I had a lot of what I thought were 'standard' deductions mixed up, plus discovered some new areas we can make deductions in.

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I forgot to mention earlier that I really wish I would've read this book in the very early days of my business so I would've kept better track of my possible deductions. Oh well, lessons learned!

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Tammi Metzler ~ The Write Associate
Free call: "How to Write Email Subject Lines That Grab Attention!"

Nolo always puts out excellent information. I have used them in the classic small business model for years. With the ever changing tax laws, they put things in laymans terms that really help to make sure you are aware of how the IRS is looking at deductions and the changes they make on a continual basis.

Highly recommend anything they put out to assist the small business owner.

great review Tammi.
Maybe there is a canadian book similar to the above you can review. Did they have any canadian info in the book?

Hi Serena,

I don't recall seeing mention of Canadian laws in this title, but I'll gladly look around to see if I can find a book that might be helpful to our neighbors up North.

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Tammi Metzler ~ The Write Associate
Free call: "How to Write Email Subject Lines That Grab Attention!"

Thanks, Tammi. This looks like a useful one to have around for sure.

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Mary H. Ruth/Virtual Writing & Communications
http://www.writingVA.com

Thanks Tammi that would be fantastic.

This seems like it would be a great resource for many and would pay for itself. I know personally I despise going to the IRS site to look up things. Great review Tammi.

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Dawn Riley
A Virtual Assistant in Paradise
Our business is about making yours better

Thanks Tammi for another great review. This book has been on my "books to review list" to see if I want to purchase. Will being moving onto my books to purchase list.

Thanks!!

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Kim Alvis, Managing Director
Cardinal Point Business Associates