Business Owner’s Tax Playbook (Advanced Edition)

You already know the basics. Now it is time to use them. The Business Owner’s Tax Playbook: Advanced Edition is for the business owner who is past the foundational questions and ready to make the kinds of strategic decisions that actually move the needle on their tax bill.

This edition covers the S-Corp election in full, including exactly when it makes financial sense, how to calculate the savings for your specific income level, what the IRS looks for when auditing S-Corp owner salaries, and when the election does not make sense. You will learn how Section 179 and bonus depreciation work for equipment and vehicles, including the listed property rules and the 6,000-pound GVWR advantage. You will get a complete breakdown of the Qualified Business Income deduction and how it interacts with your income level, business structure, and retirement contributions.

This edition also covers the quarterly safe harbor rule so you never pay an underpayment penalty again, the legal consequences of commingling business and personal finances including how courts pierce the corporate veil, the full scope of 1099 compliance and what misclassifying a worker actually costs you, and how to use retirement contributions strategically to reduce your tax bracket, optimize your QBI deduction, and build long-term wealth simultaneously.

The final chapter explains the difference between tax preparation and tax planning and lays out a three-touchpoint annual approach that keeps you in control of your tax situation all year long rather than reacting to it in February.

Includes the same full deduction checklist found in the Starter Edition so you have everything you need in one place.