One of the most daunting questions micro-business owners call ShopTalk business consultants with is, “what kind of expenses can I deduct against my revenues?” When you consider that for deduction dollar you miss you’re going to overpay taxes by 35% or more … making sure you take every legitimate tax deduction becomes pretty important.

The problem is that most entrepreneurs didn’t go into business to be accountants so bookkeeping chores are about as much fun as going to the dentist. Another challenge is finding concise information written in layman’s language that you understand just what can be taken as a business deduction, and when.

At least that was the case until Nolo Press published the latest addition of Home Business Tax Deductions. Don’t let the title throw you … while “home business” might be in the title, this book is targeted at every micro-business owner who wants to have a better understanding of what kinds of expenses they can deduct against business revenues.

Home Business Tax Deductions is comprehensive yet easy to read with many interesting and relevant examples. The book also provides basic information on how different business structures are taxed and how tax deductions work.

Like running a business, it does take some work to maximize deductions. To take advantage of the tax benefits, you’ll have to figure out which deductions you are entitled to and keep proper records documenting your expenses. Remember that the IRS is not going to be looking over your shoulder reminding you what you can and what you can not take as deductions. Nor will they ever complain if you don’t take all the deductions available to you. In fact, the majority of home business owners miss out on many deductions every year simply because they aren’t aware of them – or because they neglect to keep the records necessary to back them up.

Some of the topics you will find in Home Business Tax Deductions include:

• Your home-office costs

• Start-up and operating expenses

• Health insurance and medical bills

• Vehicles and travel

• Entertainment and meals

• Inventory and equipment

• And much more

Home Business Tax Deductions also explains how to:

• Avoid having a home business classified as a hobby

• Keep careful records for every deduction

• Avoid home-business tax scams

• Stay out of trouble with the IRS

• Take special deductions if a home business loses money

Home Business Tax Deductions is not a tax preparation guide – it doesn’t show you how to fill out your tax forms. Instead, this book gives you the information to maximize your deductible expenses – and avoid common deduction mistakes. You can (and should) use this book all year long; so that you’re taking advantage of every available deduction opportunity.

Even if you work with an accountant or another tax professional, you need to learn about business tax deductions. No tax professional will ever know as much about your business as you do; and you can’t expect a hired professional to search high and low for every deduction you might be able to take, especially during the busy tax preparation season. The information in this book will help you provide your tax professional with better records, ask better questions, and obtain better advice. It will also help you evaluate the advice you get from tax professionals, websites, and other sources, so you can make smart decisions about your taxes.

When it comes to succeeding in business having good revenues is important but, what’s even more important is how much you get to keep of those revenues. If you aren’t maximizing the deductions you take you’re simply working to pay more to the taxman instead of putting that money back to work in your business or into your own pocket.