From William Perez,
Your Guide to Tax Planning: U.S..
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Eva Rosenberg, the Internet's "Tax Mama," has written a helpful overview of tax issues that every small business owner will encounter. "Small Business Taxes Made Easy" delivers no-nonsense advice on setting up a new company, establishing good record-keeping habits, and establishing a sound accounting system. Rosenberg's provides excellent tips and advice to help you make sound business decisions and stay out of tax trouble.

Pros:

Eva Rosenberg provides a wealth of tips and advice for small businesses. Rosenberg's checklists, worksheets, and lists of books and Web sites are an invaluable resource. Overall, Rosenberg has written this book to cover questions every small business must face, and she urges entrepreneurs to plan ahead for tax consequences. Rosenberg does a particularly good job of explaining:

• How to start a business.
• Factors to consider when choosing a tax entity.
• What needs to be in a business plan.
• How to set up record-keeping and accounting systems.
• Various tax issues, including deductions, payroll taxes, depreciation, and employee benefits.
• How to handle audits, tax debts, and negotiating with the IRS.

Cons:

The tax laws are constantly changing, and this is a threat to every tax book. Rosenberg manages to keep "Small Business Taxes Made Easy" relevant by focusing on the big picture instead of focusing on particular tax issues that may change. This general focus means you need to supplement Rosenberg's book with other resources to maximize your business tax planning. Fortunately, Rosenberg provides plenty of references to other books and Web sites so that you can stay up-to-date on the latest tax information.

My biggest complaint is that Rosenberg provides only general advice on payroll taxes. In my experience, this is the one area where small businesses are likely to encounter significant problems. Granted, learning to process payroll properly is a big topic. Nonetheless, small business owners need to know how to budget for payroll taxes, how frequently they need to make payroll tax deposits, and resources for staying on top of their payroll obligations.

Eva Rosenberg provides some tips covering reasonable compensation, guaranteed payments, and wages to business owners. More of her real-world advice would have made this section stronger.

Very Minor Problems:

No book, however comprehensive, can include everything. At the end of each chapter, Eva Rosenberg summarizes the IRS publications, books, magazines, and Web sites that she finds most useful.