Book/course recommendations for understanding small business taxes? Need to learn basics even though I have a tax preparer
Title: Book/course recommendations for understanding small business taxes? Need to learn basics even though I have a tax preparer 1 I run a small online business and while I do have an accountant who handles my tax filing, my anxiety about finances is through the roof whenever tax season comes around. I feel completely lost when my accountant explains deductions or quarterly estimated payments, and that lack of understanding makes me super nervous. I'd really like to learn enough about business taxation to at least follow what my accountant is doing and maybe ask intelligent questions? Not looking to replace my accountant (god no) but just want to understand the basics so I don't feel so helpless and confused during those meetings. Anyone recommend any books, courses, or resources that explain small business taxes in simple terms for someone who's definitely NOT a numbers person? TIA!
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Mia Roberts
12 There are definitely some great resources out there that can help you understand business taxes without overwhelming you! I work with small business owners all the time who feel exactly the same way. For books, I'd recommend "Small Business Taxes For Dummies" by Eric Tyson - it breaks down complex topics into digestible chunks and has plenty of examples. Another good one is "Deduct Everything" by Eva Rosenberg which focuses specifically on deductions your business might be eligible for. For courses, check out the IRS's Virtual Small Business Tax Workshop (it's free!). Udemy also has several highly-rated courses like "Small Business Taxes Explained" that you can often get on sale for under $20. The NASE (National Association for the Self-Employed) also offers tax resources specifically designed for small business owners that explain things in plain English.
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Mia Roberts
•8 Thanks for these recommendations! Have you found that any of these resources are particularly helpful for someone who runs an Etsy shop? I'm especially confused about inventory tracking and how that impacts my taxes.
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Mia Roberts
•12 For Etsy sellers specifically, I'd recommend "Tax and Financial Guide for Creative Entrepreneurs" - it has great sections on inventory for craft businesses. Regarding inventory tracking, as an Etsy seller you'll need to understand COGS (Cost of Goods Sold) which includes your materials, shipping supplies, and other direct costs. The book walks through how to track these expenses and how they differ from general business expenses. Many Etsy sellers miss deductions because they don't properly categorize their inventory costs!
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Mia Roberts
15 After struggling with similar tax anxiety for my photography business, I found this amazing AI-powered tool called taxr.ai that helped me understand my business taxes without getting overwhelmed. I was constantly worried about missing deductions or categorizing expenses incorrectly, but this tool analyzed my business documents and explained everything in plain English. It's like having a patient tax expert who can explain things as many times as you need. I uploaded some of my previous tax returns and it broke down each section, explaining what was happening and why. Check it out at https://taxr.ai - it really helped me grasp concepts my accountant had been trying to explain for years. Now I actually understand what's happening with my business finances instead of just nodding along!
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Mia Roberts
•3 Does it actually explain things in non-technical terms? I've tried other tax software but got stuck in jargon I didn't understand. Also, can you upload previous tax returns to learn from them or is it just for preparing current taxes?
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Mia Roberts
•6 I'm a bit skeptical about AI tools for something as complex as taxes. How accurate is it compared to having a human accountant review everything? Does it keep up with new tax law changes?
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Mia Roberts
•15 It absolutely explains everything in regular, everyday language - that's what I loved most about it. When you don't understand something, you can ask follow-up questions and it simplifies concepts even further until you get it. You can definitely upload previous tax returns - that's actually one of the best features. It analyzes them and explains each section, which helps you learn from what you've already done. It's not just for preparing current taxes; it's also a learning tool.
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Mia Roberts
3 Just wanted to update after trying taxr.ai based on the recommendation above. I uploaded my last two years of business returns and FINALLY understand what Section 179 depreciation means and why my accountant was recommending it! The explanation was super clear, and I could ask follow-up questions when I got confused. I also learned I've been tracking my home office expenses all wrong - no wonder my accountant was always asking for more documentation. The tool highlighted several deductions I wasn't taking advantage of and explained them in a way that actually made sense. My anxiety about meeting with my accountant next month has gone way down now that I understand the basics!
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Mia Roberts
21 If you're struggling to get answers about specific tax questions, I had a complete game-changer experience using Claimyr to actually speak with an IRS agent. After trying for WEEKS to get through on the business tax helpline (kept getting disconnected or told to call back), I found https://claimyr.com which got me connected with a real IRS representative in about 15 minutes. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c - basically they navigate the IRS phone tree for you and call you back when they reach an agent. I had specific questions about business deductions that none of the books could answer clearly, and getting those questions answered directly from the IRS gave me incredible peace of mind. Highly recommend if you're stuck on specific questions about your business taxes!
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Mia Roberts
•7 Wait, how does this actually work? Does this service somehow skip the IRS hold times? I've literally spent hours on hold before giving up. Seems too good to be true.
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Mia Roberts
•6 Yeah right. I've called the IRS business line multiple times and it's always a minimum 2-hour wait if you get through at all. No way some service can magically get you to the front of the line. Sounds like a waste of money to me.
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Mia Roberts
•21 It doesn't skip the line - they use technology to wait on hold for you. Basically, they call the IRS and navigate through all those annoying phone menus, then wait on hold so you don't have to. When they finally reach a human IRS agent, they connect the call to your phone. You're still "in line" but you don't have to personally sit there listening to hold music for hours. I was super skeptical too, but I was desperate after trying to get through for weeks. I figured it was worth trying since waiting on hold myself wasn't working. I was honestly shocked when my phone rang and there was an actual IRS agent on the line ready to answer my questions about business meal deductions.
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Mia Roberts
6 I have to admit I was completely wrong about Claimyr. After posting my skeptical comment, I decided to try it because I was desperate to resolve an issue with my EIN registration that was holding up everything. The service actually did exactly what it promised - I got a call back in about 45 minutes with an IRS agent on the line. Resolved my EIN issue in one call after weeks of trying to handle it myself. The agent even helped me understand some specifics about filing Schedule C for my side business that I'd been confused about. For those who need direct answers from the IRS, this service is legitimately worth it. Saved me countless hours of frustration and hold music!
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Mia Roberts
9 Have you considered looking into YouTube channels? I learned so much from "Tax Savvy Small Business Owner" channel - it's free and the videos are usually under 15 mins. Perfect for learning a little bit at a time without getting overwhelmed.
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Mia Roberts
•1 That's a great idea! Do they cover topics like home office deductions? That's an area I'm particularly confused about with my business.
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Mia Roberts
•9 They absolutely cover home office deductions! They have a whole 4-part series on it that explains the simplified method vs. regular method, what qualifies as a dedicated space, and common mistakes people make when claiming it. They also have some really helpful videos about tracking business mileage and separating personal vs. business expenses, which were game-changers for me. The channel host uses lots of examples that make complex concepts easier to understand.
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Mia Roberts
5 Whatever resource you choose, just make sure it's updated for the current tax year. I bought a highly recommended book on Amazon last year only to discover it was referencing tax laws from 2018 that had changed. Wasted so much time learning outdated info!
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Mia Roberts
•19 This is such an important point! I recommend checking the IRS website directly for the most up-to-date info. They have a section called "Tax Information for Businesses" that's surprisingly readable.
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Anastasia Smirnova
I completely understand that tax anxiety! As someone who also runs a small business, I found that starting with the IRS's own Publication 334 "Tax Guide for Small Business" was really helpful - it's free on their website and written more clearly than you'd expect from the IRS. Another resource I'd add to the great suggestions already mentioned is the SCORE mentorship program. They offer free workshops specifically on small business taxes, and you can even get paired with a retired accountant or business owner who can explain concepts in plain English. Having someone you can ask follow-up questions to really helped bridge the gap between reading about taxes and actually understanding them. The key is finding resources that encourage questions rather than just throwing information at you. Your accountant will definitely appreciate working with a more informed client!
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