Ingram Publishing Services Understanding taxes is an essential part of any small business—small business owners need to know about business deductions, writing off business assets, and the tax consequences of business decisions. This book provides all this information and more so business owners can make the best tax-related decisions about how to run their business. It is completely updated to cover the Tax Cuts and Jobs Act and how it affects small business owners. This book teaches business owners what they need to know about taxes for their small business and how to make the best tax-related decisions in all aspects of their business. It is completely updated to cover the new tax law effective in 2018. has information on all aspects of taxes for a small business owner, from how to choose the best business entity to tax deductions, recordkeeping, business losses, payroll taxes, fringe benefits, retirement plans, and much more. It provides valuable tax-related strategies and information to help small business owners save money and run their business without running into trouble with the IRS.