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Tax time
Small business taxes made easy
Eva Rosenberg.
New York : McGraw-Hill, 2011.
Pay what your really owe--and not a penny more! "This book is a must-read for anyone who is running a small business. Rosenberg lays out the steps in a simple format to get you organized and running a business smoothly."-- Layla Tusko, President, Crystal Cove Marketing Group"Rosenberg has an uncanny ability to make taxes and tax issues easier to understand, all the while keeping everything fresh and fun. I would recommend her book to anyone managing a business."-- Sonny Byrd, Head of Marketing, Shoeboxed.com"With a focus on real-world must-do's and helpful examples, Rosenberg's checklists work like a business-building scaffold and arm the reader to succeed."-- Leigh Mutert, CPA, H&R BlockIs the government taking too much of your money? Do you want to keep more of what you earn? Are you worried about being taxed right out of business?As a taxpayer, you have rights--many of which you probably don't know about. InSmall Business Taxes Made Easy, Second Edition, America's top small-business tax expert Eva Rosenberg describes them all. This all-in-one primer is packed with tips and guidelines not only for paying out less in tax but also for gaining the greatest possible advantage out of each IRS rule and regulation. You'll learn how to: Choose the right accounting style for your needs Navigate the complex tax maze without losing the bank Set up a business plan that helps minimize payout Use record-keeping techniques that increase deductible expenses Spot errors in 1099s--and handle them properly Increase your profits and your cash flow Build a business to pass on to your children--or sell at a huge profit!Small Business Taxes Made Easy, Second Edition, provides easy-to-follow, actionable advice with timeless information that can help any business at any stage of operation. Plus, you get access all the forms and to-do lists you need through the book's companion Website.Eva Rosenberg, known as the Internet's TaxMama, is an enrolled agent with over a quarter century of tax experience. A syndicated Dow Jones columnist, and her daily TaxQuips podcast can be found all over the Web. Rosenberg lives in Northridge, California.
     
The FairTax solution : financial justice for all Americans
Ken Hoagland.
New York : Sentinel, 2010.
Hoagland is the national communications director for Americans for Fair Taxation, the sponsoring organization for the FairTax legislation. In this 5x7.25" overview, he sets out arguments for replacing the federal income tax with the FairTax, a flat sales tax on all new goods and services. He reviews the history of income tax collection in the US, and exposes the lobbying practices that have resulted in current tax regulations. He outlines the effects the FairTax would have on the national economy, discusses the politics of the FairTax, and makes suggestions for what readers can do to change the system. Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)
     
The pocket idiot's guide to the Fair Tax
by Ken Clark.
New York : Alpha Books, c2010.
In recent years, the FairTax has gained a lot of attention, but for the vast majority of Americans, there's a sense that there's still too little unbiased information on which to make an informed decision. The Pocket Idiot's Guide(tm) to the FairTax seeks to change that. In this book, readers get answers to all of the questions they have about the FairTax, including: bull; bull;What it is, how it's calculated, and who pays what. bull;Comparisons with other tax systems. bull;Economic and political effects of the FairTax. bull;Common misconceptions. bull;What supporters and opponents have to say. bull;Moral issues associated with the FairTax. bull;Author is a certified financial planner.
     
The tax lady's guide to beating the IRS and saving big bucks on your taxes : learn how you can pay less money to the IRS
Roni Deutch.
Dallas, TX : Benbella Books, c2010.
     
Lower your taxes-big time! : wealth-building, tax reduction secrets from an IRS insider
Sandy Botkin.
New York : McGraw-Hill, c2009.
This updated guide shows consultants, business owners, and independent contractors how to legally, morally, and ethically take advantage of the tax system to get a yearly subsidy back from the IRS--and bulletproof their records.
     
FairTax, the truth : answering the critics
Neal Boortz & John Linder, with Rob Woodall.
New York : Harper, c2008.
  1. Includes bibliographical references.
  2. The ball is rolling -- Why now, and why us? -- Economic forces -- Taxation : the who, what, and how -- The merits of the FairTax : it's amazing -- Myths about the FairTax : it's not a miracle -- The criticisms : how to judge them -- The critics -- The bad-and barely worth dismissing -- The good-and worth answering -- The FairTax grassroots army-and its victories -- Our vision for tomorrow.
     

It's tax time.

Whether you are first-time filer, or have been filing income tax returns for decades, take time to ask yourself the following questions.

The answers could save you time and money.

Missouri's Dept. of Revenue answers your questions:

Who needs to file?
Are pensions taxed?
What is the tax rate?
Can I get a pay plan?
Can I get help filing?

More...

Consider: 

  1. Do I have all my papers together, including W-2s and 1099s?
  2. Do I have all the forms I will need? City (St. Louis), State (Missouri, Illinois, Kansas) and Federal websites can provide these forms.
  3. Will I do my own taxes or hire a tax preparer? Is my tax preparer qualified?
  4. Have I set aside enough time to do my taxes right? Have I double-checked all figures?

E-Filing

Approximately 86 million federal tax returns were filed electronically in 2008 - up from 80 million in 2007.  (from the IRS)

Next consider the best ways to maximize your refund or minimize your tax payment.

  1. Should I itemize deductions? If so, have I taken all allowable deductions? There are new tax laws that impact medical, investment, childcare, business and education deductions for tax year 2006.
  2. What is the best way to get a quick refund? Consider filing early, doing e-filing, and using direct deposit.
  3. How can I start planning right now for tax year 2009?

Knowledgeable volunteers from Missouri and the eastern third of Kansas area agencies such as the IRS, VITA and AARP offer free tax assistance. Some age and income requirements apply and appointments may be necessary.

April 15th is not that far away. Get started on your taxes now.

Article by: St. Louis Public Library staff