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Book

Tax deductions for professionals

Call Number

  • 343.0523 F5378 2022 (CEN)

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Edition

17th edition.

Publication Information

[Berkeley, CA] : Nolo, 2022.

Physical Description

484 pages : illustrations ; 23 cm

Summary

Keep your taxes under control! Architects, lawyers, dentists, chiropractors, doctors, and other licensed professionals are subject to special tax rules. With this book, learn how to pay less to the IRS at tax time by taking advantage of the many tax deductions available to professionals. Find out how to deduct: start-up expenses, medical expenses, retirement plan contributions, continuing education costs, vehicles, meals, and travel, and home office expenses. Tax Deductions for Professionals will also help you choose the best legal structure, with detailed information on limited liability companies, partnerships, and professional corporations.

Notes

"This book covers only United States law, unless it specifically states otherwise"--Title page verso.

"This new edition covers changes and updates to tax laws revised as a result of the coronavirus pandemic"--Back cover.

Contents

  • Tax deduction basics
  • Choice of business entity
  • Operating expenses
  • The pass-through tax deduction
  • Car and local travel expenses
  • Long-distance travel expenses
  • The home office deduction
  • Deductions for outside offices
  • Deducting long-term assets
  • Start-up expenses
  • Medical expenses
  • Inventory
  • More deductions
  • Hiring employees and independent contractors
  • Professionals who incorporate
  • How you pay business expenses
  • IRS audits
  • Record keeping and accounting.

Subjects