Small Business Quickfinder Handbook

Tax Cuts and Jobs Act (TCJA) Coverage Includes:

• Lower Tax Rate for C Corporations and QBI Deduction for Passthrough Income. Explains the impact on choosing the right entity for conducting business in view of the changed tax landscape following corporate tax rate reduction and Section 199A deduction for Qualified Business Income (QBI) enactment.
• Fringe Benefits Tax Changes. Provides what you need to comply with the new deduction restrictions for popular employer-provided benefits—including meals and entertainment, moving expenses and transportation benefits.
• Accounting Methods, Net Operating Loss Carryovers, Interest Expense and Excess Business Losses. These are among the many changes that the Handbook rounds up and explains how to comply with using concise, plain-English Quickfinder coverage.

Your trusted quick reference tax guide for small business

The Small Business Quickfinder Handbook is your trusted source for quick reference to tax principles that apply when preparing business and fiduciary income, estate and gift, tax-exempt organization, and payroll tax returns. It covers the essentials of preparing these tax filings, including detailed, true-to-life examples with filled-in forms and line-by-line explanations, and thoroughly addresses tax law changes and IRS developments, all in a concise, easy-to-use format.

From start-up to termination issues, and everything in between - including employee benefits, accounting methods and principles, deductions, credits, and tax planning - this Handbook is a unique, one-stop solution for your many tax questions.

The small business tax book depended on by tax and accounting professionals

Here’s what you’ll get with this useful tool:

• Material that’s organized in a unique tab structure based on the IRS tax forms and schedules
• Loads of quick reference tables and charts to get you the answers you’re looking for quickly
• Examples throughout to illustrate how the tax rules apply and how to report items on the return
• A What’s New tab that summarizes significant current-year tax changes that are addressed throughout the Handbook, so you can quickly get up to speed on what’s changed
• References throughout the Handbook to relevant Internal Revenue Code sections, IRS regulations and rulings, and court cases so you can dig deeper into a subject if needed

See information above for new edition availability. To order the current or prior tax year editions, please call us at 800-510-8997.

• Small Business Quickfinder Handbook 2017
  • Small Business Quickfinder Handbook
  • Tab A—Reference Materials and Worksheets
  • Tab B—Partnerships
    • Basics of Partnerships
    • Partnership Income and Expenses
    • Basis
    • Built-In Gain or Loss
    • Partnership Distributions
    • Partnership Example
      • Line-By-Line Instructions
  • Tab C—Corporations
    • Basics of Corporations
    • Capital Contributions
    • Section 1244 Stock Losses
    • Small Business Stock
    • Distributions
    • Earnings and Profits (E&P)
    • Accumulated Earnings Tax
    • Corporate Income and Expenses
    • Corporate AMT
    • Losses and Miscellaneous Items
    • Corporation Example
      • Line-By-Line Instructions
      • Cost of Goods Sold
      • Dividends and Special Deductions
      • Tax Computation
      • Other Information
      • Balance Sheets
      • Reconciliation of Income (Loss) per Books With Income per Return
      • Analysis of Unappropriated Retained Earnings per Books
  • Tab D—S Corporations
    • Basics of S Corporations
    • S Corporation Taxes
    • Reasonable Wages
    • Shareholder’s Basis
    • Distributions
    • S Corporation Example
      • Line-by-Line Instructions
      • Cost of Goods Sold
      • Other Information
      • Shareholder’s Share of Income, Deductions, Credits, etc.
      • Balance Sheets
      • Reconciliation of Income (Loss) per Books With Income (Loss) per Return
      • Analysis of AAA, OAA and Shareholders’ Undistributed Taxable Income Previously Taxed (PTI)
  • Tab E—Tax-Exempt Organizations
    • Basics of Tax-Exempt Organizations
    • Private Foundations
    • Becoming an Exempt Organization
    • Form 990, 990-EZ or 990-N
    • Completing Form 990-EZ
    • Contributions to Tax-Exempt Organizations
    • Unrelated Business Income Tax (Form 990-T)
  • Tab F—Other Business Entities
    • Limited Liability Company (LLC)
    • LLCs and Entity Classification
    • LLC Creation and Conversions
    • LLCs—Other Considerations
    • Limited Liability Partnership (LLP)
    • Personal Service Corporation (PSC)
    • Personal Holding Company (PHC)
  • Tab G—Fiduciary Tax Returns (Form 1041)
    • Overview of Income Taxation of Trusts and Estates
    • Simple Trust—Detailed Example
      • Overpayment (Lines 28 and 29)
    • Complex Trust—Detailed Example
  • Tab H—Estate and Gift Tax Returns
    • Death of a Taxpayer
    • Taxable Income in the Year of Death
    • Final Form 1040, 1040A or 1040EZ
    • Gift Tax Return (Form 709)
      • Gifts Subject to Gift Tax
    • Estate Tax Return (Form 706)
      • Reporting Items on Form 706
    • Generation-Skipping Transfer (GST) Tax
    • Basis in Property
    • Valuing Property
    • Taxable Estate Example
    • Comprehensive Example— Portability Election
      • Estate Tax Return (Form 706)
  • Tab I—Payroll Tax Returns
    • Payroll Tax Deposit Requirements
    • Payroll Tax Payments
    • Withholding Methods and Examples
    • New Hire Reporting
    • Payroll Tax Reporting
    • Special Compensation
    • Trust Fund Recovery Penalty
    • Other Payroll Tax Issues
  • Tab J—Depreciation and Amortization
    • Section 179 Deduction
    • Recapture—IRC Sec. 179 and Listed Property
    • Short Tax Year—MACRS
    • Depreciation Recapture
    • General Asset Account (GAA) Depreciation
    • Capitalization Rules
    • Amortization
    • Depletion
    • Oil and Gas
    • Auto Depreciation
    • Contributed Property
  • Tab K—Employee Benefit Plans
    • Basics of Employee Benefits
    • Tax-Free Fringe Benefits
    • Dependent Care Assistance
    • Meals and Lodging
    • Health Care Benefits
    • Disability Insurance Benefits
    • Long-Term Care Insurance
    • Cafeteria Plans
    • Nonqualified Deferred-Compensation Plans
    • Employer-Provided Vehicle
    • Qualified Retirement Plans
    • Other Employer Retirement Plans
    • Form 5500
  • Tab L—Accounting Methods and Principles
    • Accounting Methods
      • Accounting Methods for Inventory
    • Tax Year
    • Inventories
    • Uniform Capitalization Rules
    • Bookkeeping Basics
    • Double-Entry Bookkeeping
      • Double-Entry Example
    • Balance Sheet
  • Tab M—Starting a New Business
    • Start-up Considerations
    • Business Plan
    • Pre-Incorporation/LLC/Partnership Agreements
    • Organizational and Start-Up Costs
    • Identifying Start-Up Costs Capitalization
    • Employment Issues
    • Labor Laws
    • Financing
    • Buy/Sell Agreements and Succession Planning
      • Funding of Buy/Sell Agreements
    • Business Valuation Methods
  • Tab N—Acquisitions, Dispositions and Liquidations
    • Partnership Liquidations
    • Sales and Exchanges of Pass-Through Business Entity Interests
    • Corporate Liquidations
    • Stock Redemptions
    • Corporate Reorganizations
    • Disposition of Assets
    • Asset Acquisitions
  • Tab O—Deductions, Credits and Books vs. Tax
    • U.S. Production Deduction
    • Tax Credits
    • Selected Energy Tax Incentives for Businesses
    • Net Income per Books vs. Taxable Income
  • Tab P—Tax Planning for the Small Business
    • Home Office for the Small Business
    • S Corporation vs. C Corporation
    • Shareholder Loan to C Corporation
  • Tab Q—What’s New
    • Tax Legislation
    • Identity Theft—Safeguarding Client Information
    • Responding to a Security Breach of Client Data
  • Back Cover

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