Save tons of money with the secrets to avoiding income taxes Could it be possible to run your business without paying federal and state income tax for at least 36 months? What if you're not in business-how about reducing or completely wiping out your income tax? It may sound too good to be true, but the answer is YES. In this easy-to-use, plain-English book, Robert A. Cooke shows how you can legally use the tax rules to your advantage. Doing Business Tax-Free, Second Edition is packed with tax-saving concepts and ideas and clear explanations on how to apply them to your own situation. Numerous examples help you understand crucial tax-planning maneuvers and form a game plan, which, with a little professional fine-tuning, will alleviate your income tax burden. Plus, you'll save even more money by learning how to keep professional fees to a minimum and shorten your time in the tax preparer's office.
New to the Second Edition: Recomputes examples involving computation of individual income taxes with year 2000 tax rates Features updated sections on S corporations, limited liability companies, and loss carryovers Covers the new, simpler "check-the-box" rules for satisfying IRS requirements for taxation of a limited liability company Guarantees postings of future significant changes to the tax rules regarding S corporations on the author's Web site, www.robertcooke.com-which you can check for updates as you read the book Includes revised rules for home offices