About the Book

Deduct It! is indispensable to your financial success, whether your business is just starting or well established. This book explains how to take advantage of all the business tax deductions and credits available to small business owners. It covers deductions for startup and operating expenses, travel and meals, home offices, medical expenses, equipment and inventory, and more.

Book Synopsis

Take all the business tax deductions you're due.

Small business owners leave money on the table every single year. Without comprehensive knowledge of current tax law, entrepreneurs miss thousands in legitimate deductions and credits--money that could fund growth, increase payroll, or strengthen your bottom line. The difference between an average tax return and an optimized one often comes down to knowing which deductions you qualify for and how to claim them correctly.

Updated for the latest tax laws and regulations, Deduct It! includes key federal tax law changes under the One Big Beautiful Bill Act. It has updated information on 100% bonus depreciation, as well as everything you need to know about the 20% pass-through deduction. This practical manual shows you exactly how to maximize your business deductions quickly, easily, and legally, so you can minimize your tax burden and keep more of what you earn.

Deduct It! is your complete guide to claiming every business tax deduction and credit you're legally entitled to. This edition explains what small business owners need to know about claiming the home office deduction and retirement deductions. You'll also learn the rules for deducting startup and operating expenses, long-term assets, inventory, travel and meals, office expenses, and more. It also explains how to keep proper tax records and how business owners can protect themselves from audits.

Now, more than ever, understanding taxes is essential for small business success. Deduct It! provides the comprehensive, current tax law information you need to navigate the complex tax landscape confidently. Easy to read, full of practical examples, and organized for quick reference, this guide will pay for itself many times over.

Review Quotes

"Delves deeply into the complex thicket of available deductions, with real-life examples on deducting everything." Accounting Today

"Every small business enterprise must deal with the issue of local, state, and federal taxes. Now in a newly revised and completely updated tenth edition, "Deduct It!: Lower Your Small Business Taxes" by tax expert Stephen Fishman is a superbly well organized and presented, 544 page, 'user friendly' instruction manual covering every aspect of small business taxation including deductions for start-up and operating expenses; travel, meals and entertainment; home offices (including new IRS rules); health care; equipment and inventory, and so much more. Offering a wealth of information, tips, strategies, legal forms, and FAQs, "Deduct It!: Lower Your Small Business Taxes" should be considered essential reading and an invaluable reference for all small business owners and entrepreneurs!" The Midwest Book Review​

"Exceptionally well written, organized and presented, this fully updated and expanded twelfth edition of "Deduct It!: Lower Your Small Business Taxes" should be considered essential and mandatory for any and all businesses from the newest entrepreneurial venture to established multinational corporation ... . Thoroughly 'user friendly' from beginning to end, "Deduct It!" is very highly recommended for professional, corporate, community, and academic library Business & Economics reference collections in general, and Small Business supplemental studies lists in particular. " Dunford's Bookshelf, MBR Bookwatch

"Outlines the many deductions available to small businesses--in plain English." National Federation of Independent Business