Foreword: Be Your Own Boss 5(6)
SECTION ONE: GETTING STARTED
11(34)
Getting Started: Basics
A Small Time Operator: A True Story
13(1)
Kinds of Business
13(2)
Can You Do It?
15(1)
Your Idea, and the Market
16(1)
Business Location
Choosing a Location
17(1)
Zoning
18(1)
Leases
19(1)
Rural Businesses
20(1)
Financing
How Much Do You Need?
20(1)
Start Up Capital
21(1)
Self Financing
21(1)
Debt Financing
21(1)
Bank Loans
22(1)
Other Loan Sources
22(1)
Small Business Administration (SBA)
23(1)
Loans to Yourself
24(1)
Equity Financing (Investors)
24(1)
Limited Partnerships
24(1)
Limited Liability Companies (LLCs)
25(1)
Venture Capital
25(1)
Legal Structure
Different Legal Structures
25(1)
Sole Proprietorship
26(1)
Choosing a Business Name
27(1)
DBA / Fictitious Name Statement
28(1)
Trademarked Names
29(1)
Licenses and Permits
General Information
29(1)
Local Business Licenses
29(1)
Other Local Permits
30(1)
State Licenses
31(1)
Sales Tax
31(1)
Seller's (Resale) Permits
32(2)
Use Tax
34(1)
Other State Regulations
34(1)
Federal Identification Numbers
34(1)
Federal Licenses
35(1)
Federal Trade Commission Rules
35(2)
Insurance
37(5)
The Business Plan
42(3)
SECTION TWO: BOOKKEEPING
45(28)
Warming Up to an Unpopular Subject
Why Keep a Set of Books
47(1)
IRS Requirements
47(1)
Setting Up Your Books
48(1)
Hand-Posted Versus Computer Ledgers
48(1)
Computer Software for Bookkeeping
48(1)
Business Bank Accounts
49(4)
Bookkeeping Simplified
Introduction to Single-Entry Bookkeeping
50(1)
Cash Accounting Vs. Accrual
51(2)
Recording Income
53(4)
The Income Ledger
54(1)
Sales Returns
55(1)
Installment Sales
56(1)
Return (Bounced) Checks
56(1)
Credit Sales
57(5)
Direct Credit
57(1)
Finance Charges
58(1)
Credit Ledger
58(1)
Accounts Receivable
58(1)
Your Credit Customers
59(1)
Uncollectible Accounts
60(1)
Credit and Debit Cards
60(2)
Recording Expenditures
62(6)
The Expenditure Ledger
62(1)
Checkbook and Ledger Combined
63(1)
Posting The Ledger
63(4)
Accounts Payable
67(1)
Petty Cash
67(1)
Calculators and Adding Machines
68(5)
Financial Management
Profit and Loss Analysis
69(1)
Cash Flow Projections
70(1)
Inventory Control
71(2)
SECTION THREE: GROWING UP
73(28)
Business Growth
75(11)
Hiring Help
Employees Vs. Independent Contractors
76(4)
Steps to Becoming an Employer
80(1)
Federal and State Requirements
80(1)
Federal Procedures and Taxes
81(3)
Family Employees
84(1)
Payroll Ledgers
84(2)
Partnerships
86(12)
General Vs. Limited Partnerships
86(1)
Partnership Agreements
87(1)
You and Your Partners
88(1)
Partnership Bookkeeping
89(2)
You, Incorporated
A Corporation Primer
91(1)
Corporate Taxes
92(1)
Limited Liability
92(1)
Change of Ownership
93(1)
Owner-Employees
93(1)
Retained Earnings
94(1)
S Corporations
94(1)
Close Corporations
95(1)
Steps to Incorporating
95(1)
Articles of Incorporation
96(2)
Incorporating an Existing Business
98(1)
Limited Liability Company (LLC)
98(3)
SECTION FOUR: TAXES
101(46)
Accounting Period: Calendar Vs. Fiscal Year
104(1)
Who Must File
105(1)
Which Returns to File
105(1)
Filing Dates
106(1)
Tax Calendar
106(3)
Business Expenses
Basic IRS Rules
109(1)
Start-Up Expenses
110(1)
Prepaid Expenses
110(1)
100 Typical Expenses
110(3)
Inventory and Cost-of-Goods-Sold
113(3)
Manufacturer's Deductions
116(1)
Assets: Machinery, Equipment, Furniture, Etc.
116(1)
Depreciation
117(5)
Vehicle Expenses
122(2)
Repairs
124(1)
Bad Debts
124(1)
Casualty and Theft Losses
125(1)
Donations
125(1)
Interest
125(1)
Entertainment
125(1)
Business Gifts
126(1)
Meals
126(1)
Travel and Business Trips
126(2)
Dues
128(1)
Freight
128(1)
Education Expenses
128(1)
Insurance
128(1)
Health Insurance
129(1)
Non-Deductible Expenses
129(1)
Self-Employment Tax
130(1)
Retirement Deductions
131(11)
IRA (Individual Retirement Account)
132(1)
SEP (Simplified Employee Pension Plan)
132(1)
SIMPLE Plan
133(1)
Qualified Plans (401k, Keogh)
133(1)
Other Small Business Tax Issues
Estimated Tax Payments
134(1)
Barter
135(1)
Operating Losses (NOL)
135(1)
Year End Tax Strategies
136(1)
Tax Credits
137(1)
Tax Software
138(1)
The Internal Revenue Service
The IRS and You
138(1)
Business Losses and Hobby Loss Rule
139(1)
Audits and Penalties
140(1)
Failure to File
141(1)
Amending Old Returns
141(1)
Federal Information Returns
142(1)
Excise Taxes
143(4)
State and Local Taxes
State Income Taxes
144(1)
Gross Receipts Taxes
144(1)
Other State Taxes
145(1)
County, City and Local Taxes
145(2)
SECTION FIVE: HOME BUSINESS
147(16)
Home, Inc.
149(1)
Types of Businesses (and Possible Problems)
150(1)
The Well Hidden Home Business
151(1)
Post Office Boxes
151(1)
Deliveries
151(1)
Zoning
152(1)
Housing Restrictions
153(1)
Setting Up Your Office
153(1)
Telephone
154(2)
Insurance
156(1)
Income Tax Laws
157(1)
Home Office Deduction
158(3)
Outgrowing The Home
161(2)
SECTION SIX: YOUR BUSINESS
163(46)
How to Balance a Bank Account
165(2)
Balance Sheets
167(2)
Professional Help
Accountants
168(1)
Attorneys
169(1)
Bookkeepers
169(1)
Husband and Wife Businesses
169(3)
Partnership, Sole Proprietor, or Corporation?
169(1)
Income and Payroll Taxes
170(1)
Spouse as Employee, and Fringe Benefits
170(2)
Two Separate Businesses
172(1)
Multiple Businesses (More Than One Business)
172(1)
Import and Export Businesses
173(8)
Buying a Business
Independently Owned Businesses
175(4)
Franchises
179(2)
``Business Opportunities''
181(1)
Freelancers, Professionals, Consultants
181(15)
Independent Contractor Status
181(1)
Royalties and Advances
181(1)
Legal and Management
Pricing
182(2)
Trademarks
184(3)
Patents
187(2)
Copyrights
189(2)
Contracts
191(2)
How To Avoid Crooks
193(3)
The Internet
196(11)
Business on the Internet
196(1)
Market Research
196(1)
Web Sites
197(1)
Domain Names
198(1)
Web Hosting
199(1)
Web Site Design
200(3)
Shopping Carts
203(1)
E-Mail
204(1)
Links
205(1)
Security
206(1)
Managing and Marketing Your Business
207(1)
The Future of Small Business
208(1)
The Annual Update Sheet
208(1)
SECTION SEVEN: THE LEDGERS
209(14)
Income and Expenditure Ledgers
Year End Summaries
Depreciation Worksheet and Equipment Ledger
Credit Ledger, Payroll Ledger, Partners' Capital
Petty Cash Ledger, Inventory Record
Index 223