Description
Book SynopsisThe Tax Rules Have Changed. Your Business Should, Too.The Tax Cut and Jobs Act of 2017 marks the biggest tax reform in more than 30 years. The changes to the tax code are complex (especially for the small-business owner), but you don't have to go it alone. CPA and Attorney Mark J. Kohler delivers a comprehensive analysis of the new tax and legal structure you desperately need to help make the new tax law work for you.
In this revised edition of The Tax and Legal Playbook, Kohler reveals clear-cut truths about tax and legal planning and delivers a practical, play-by-play guide that helps you build wealth, save on taxes, and protect your assets. Using real-world case studies, tax-savvy tips, game plans, and discussion points, Kohler coaches you through the complexities of the tax game of the small-business owner. You'll also learn how to:
- Examine your business needs and pick the right business entity for you
- Build your personal and corporate credit in eight steps
- Implement affordable asset protection strategies
- Take advantage of underutilized business tax deductions
- Pick the right health-care, retirement, and estate plans
- Bring on partners and investors the right way
- Plan for your future with self-directed retirement funds
Reading from cover to cover or refer to each chapter as needed, you will come away wiser and better equipped to make the best decisions for your business, your family, and yourself.
Table of ContentsContents
Acknowledgments
Introduction
Part I: Pre-Season Planning
Chapter 1: Your Game Plan for Success Part II: Getting the Most From Your Business Entity
Chapter 2: Sole Proprietorships Chapter 3: Limited Liability Companies Chapter 4: S Corporations Chapter 5: C Corporations Chapter 6: Building Corporate Credit Chapter 7: Maintaining and Protecting the Corporate Veil Part III: Game-Winning Tax Strategies
Chapter 8: The Smartest Small-Business Tax Deductions Chapter 9: Wise Health-Care Strategies Chapter 10: Hiring Family Members for Tax Savings Chapter 11: Buying Rental Properties Chapter 12: The Importance of Bookkeeping Chapter 13: Avoiding an Audit Chapter 14: Tax-Saving Strategies for Selling Property Part IV: Protecting Your Assets
Chapter 15: Affordable and Basic Asset Protection Strategies Chapter 16: Privacy Measures vs. Hiding Assets Chapter 17: Protecting Your Home from a Lawsuit Chapter 18: Asset Protection in Marriage and Divorce Chapter 19: Cutting-Edge Asset Protection Strategies Part V: The Proper Approach to Partners and Investors
Chapter 20: Documenting a Partnership Chapter 21: Bringing on Investors Part VI: Planning for the Next Season
Chapter 22: Retirement Plan Options Chapter 23: Self-Directing Your Retirement Funds Chapter 24: Family Trusts and Estate Planning Epilogue
Appendix A: Homestead Exemption by State
Appendix B: Tenants by the Entirety by State
Appendix C: Charging Order Protection Entities (COPE) and Series LLC by State
Index
