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It’s not what you make but what you keep that counts, goes the saying. In this program, Donald C. Alexander, former Commissioner and Director of the IRS, explains some of the basics that small-business owners need to know about taxes: the tax differences between working for someone else’s business and working for yourself; types of business organizations and their tax consequences; the nature and types of allowable business deductions; deducting for use of your home for business purposes; keeping accurate records and retaining them for the requisite length of time; red-flagging your return for audit; tax shelters; 401k; evaluating inventory; carry-forwards and carry-backs; tax avoidance and tax evasion; dealing with a tax audit; how the IRS works—including the critical information that, while in court a person is presumed innocent until proven guilty, in a tax audit a person or company is presumed guilty until proven innocent. (27 minutes)



 
    

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Part of the Series : How to Be More Successful in Business
     


Only available in the US and Canada.




Small Business: Triumph or Tragedy

A compelling documentary that shows why small and medium-size businesses so often fail despite the dedication, perseverance, and hard work of their owners-businesses that appear to fill a need or a market niche, that offer a marketable service or pro...(more details)
 
Accounting

Except for accountants, everyone's least favorite subject. Nevertheless, accounting is a critical element in the success of a small business, and leaving the details to an outside accountant without understanding what accounting means is a prescripti...(more details)
 
Marketing

Former Dallas Cowboy Roger Staubach, now a successful real estate developer, explains why quarterbacking a football team is like managing a business. The program takes a comprehensive look at marketing strategies: drawing up a marketing plan; setting...(more details)
 
Management
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Management is the first and foremost element in business success, and inadequate or improper management the primary cause of business failure. In this program, Jim Sanders, administrator of the United States Small Business Administration, provides co...(more details)
 
Finance
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"To know how healthy your business is you must understand the relationships between its assets, its liabilities, and its income... The time to develop a banking relationship is before you need a loan... If managing your business is a headache, it may...(more details)
 


See additional titles in Finance, Accounting & Taxation | Management