Business Tax Made Easy: Shortcuts to Understanding Business Tax Preparation - Paperback

by Ferey Kian Ea (Author)

Business Tax Made Easy is a concise and to-the-point review of significant types of business organizations. The study guide covers -Business income, Retained Earnings, Cost of Goods Sold, Depreciation (New Section 179 and Bonus Depreciation), other Business Deductions and Credits, as well as -Net Operating Loss (NOL) and Net Capital Loss (NCL). The book also covers the business from startup funding through exit strategies.
Treat your business entity like a profitable entity that benefits from all available business deductions and credits you qualify for. The book takes you step by step to establish a company that will serve you instead of you serving the business. It shows you how to narrow down your business activity code in your industry and how to fund it when to report your payroll, sales taxes, and business taxes for Sole Proprietors, LLCs, S Corporations, C Corporations, and Nonprofit, tax-exempt entities.
The book includes tax forms and schedules for all business types and how to keep records of critical information on dollar limits, requirements, and the write-off.
This book helps you to determine the followings:

• Avoid overpaying your taxes as most businesses do because they need more expertise.
• The Qualified Business Deductions (to get QBID) give you a 20% deduction in your passthrough entities, affecting your 1040 tax and what expenses are not deductible.
• How to audit-proof your business tax return
• How to maintain some income for future growth in your Retained Earnings.
• How to file your taxes accurately, pay only the right amount, and maximize your bottom line.
• How to use forms to convert one business type to another that may serve you better.
• A review of forms 1065, 1120S, and 1120 and related schedules.
• Home office expenses
• Business miles and how to chose between actual and standard mileage rates

Author Biography

Ferey Kian has an MBA from Nova Southeastern University and an Enrolled Agent who has taught, audit, accounting, and taxation in many universities (including Phoenix, DeVry, Keller Graduate School and Miami Dade College). Kian Finance Authority is an IRS Approved Education Provider focused on face to face, interactive, as well as online seminars, Continuing Education workshops for AFSP, AFTR and Enrolled Agent Preparatory workshops.