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How To Make Sense Out Of Nonsense --
The Small Business Owner’s Guide
To The Wild & Wacky World of Taxes
Congratulations! You are the proud owner of one of America’s greatest treasures:
The Small Business. Without question, our country is truly the "Land of Opportunity."
And Small Business Owners like yourself are the main reason why.
I use the term "small business" to include home-based businesses (whether full-
time or part-time) as well as online businesses (whether full-time or part-time).
Whether you are making a living from the Internet or just getting started to "see
what you can do" in your spare time -- you will soon find out that, at least in the eyes of
the IRS, you own a small business and must report that business on your tax return.
Also included in this definition of "Small Business Owner" are self-employed
people. You may not own a store, rent an office, or have employees. You just do what
you do "flying solo", just you and your web site, offering your products and/or services to
the world. Again, from a tax standpoint, you too are considered to be a Small Business
Owner and no matter how small you may think your business is, your tax situation just
became significantly more complicated.
So, congratulations on taking the first step to "going it alone." There are probably
as many reasons for starting a Small Business as there are people who have started a
Small Business. But undoubtedly the most common reason for starting a Small Business
is the most obvious one: To Make Money -- Lots of Money!
Running a Small Business successfully (and by that, I mean profitably) is a
tremendous challenge. There are a multitude of obstacles to making money in your
business. And perhaps the most frustrating one that stands in the way of your success is
We live in a great country, for sure. But our "system" is not without its problems.
And one of the greatest problems you face as a Small Business Owners is simply this:
"How can I legally reduce my tax bill?"
TAXES!! Income Tax, Payroll Tax, Sales Tax, Real Estate Tax, Personal
Property Tax, Excise Tax. The seemingly never-ending list of taxes is just that -- A
NEVER-ENDING LIST!! IT DOESN’T END!!!
And not only is our tax system "never-ending", it is also incredibly frustrating
because of its complexity.
© 2003 Wayne M. Davies Inc.