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The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. The proprietor is personally taxed on all income from the business. A business structure does not allow for corporate tax rates. If the business acquires debts, the creditors can go after the owner's personal possessions. Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. Simply put, it is "any activity or enterprise entered into for profit." “Al, your Tax Bible saved me almost $20,000 in taxes.Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). I save a considerable amount of taxes every year because of Mr.
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It gave me specific tax reduction techniques that I applied immediately. “This far surpasses anything that I have learned before. Cohen, Tax Attorney, Cozen and O’Connor, National Law Firm Not only is it loaded with useful tax saving techniques, but the schedules and checklists are wonderful time-savers and identify tax deductions which are frequently overlooked by professionals.”ĭennis L. “This is a must for every self-employed person. Everyone should have a copy on their research shelf…”Īl Brindisi, CPA, MBA, Director of Graduate Tax Program, Former IRS Trainer
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“Even with all of my tax background as a CPA, I find The Tax Bible one of the best saving tax devices written in simple language for an ordinary person to understand.