Table of Contents

• Publication 334 - Introductory Material
  • Introduction
  • What's New for 2004
  • What's New for 2005
  • Reminders
  • Photographs of Missing Children
• 1. Filing and Paying Business Taxes
  • Introduction
  • Useful Items - You may want to see:
  • Identification Numbers
    • New EIN.
    • Employee.
    • Other payee.
  • Income Tax
    • Do I Have To File an Income Tax Return?
    • How Do I File?
    • IRS e-file (Electronic Filing)
    • When Is My Tax Return Due?
    • How Do I Pay Income Tax?
  • Self-Employment Tax
    • How to become insured under social security.
    • Earning credits in 2004 and 2005.
    • Why use the optional methods?
  • Employment Taxes
  • Excise Taxes
  • Information Returns
    • Waiver of penalties.
    • Penalties.
• 2. Accounting Periods and Methods
  • Introduction
  • Useful Items - You may want to see:
  • Accounting Periods
  • Accounting Methods
    • Cash Method
    • Accrual Method
    • Combination Method
    • Inventories
    • Uniform Capitalization Rules
    • Special Methods
    • Change in Accounting Method
• 3. Dispositions of Business Property
  • Introduction
  • Useful Items - You may want to see:
  • What Is a Disposition of Property?
    • Like-kind exchanges.
  • How Do I Figure a Gain or Loss?
    • Is My Gain or Loss Ordinary or Capital?
    • Is My Capital Gain or Loss Short Term or Long Term?
  • Where Do I Report Gains and Losses?
• 4. General Business Credit
  • Introduction
  • Useful Items - You may want to see:
  • Business Credits
    • Energy credit.
    • Reforestation credit.
    • Rehabilitation credit.
  • How To Claim the Credit
• 5. Business Income
  • Introduction
  • Kinds of Income
    • Bartering for Property or Services
    • Real Estate Rents
    • Personal Property Rents
    • Interest and Dividend Income
    • Canceled Debt
    • Other Income
  • Items That Are Not Income
    • Amount you can exclude.
    • Short-term lease.
    • Retail space.
    • Qualified long-term real property.
  • Accounting for Your Income
• 6. How To Figure Cost of Goods Sold
  • Introduction
  • Figuring Cost of Goods Sold on Schedule C Lines 35 Through 42
    • Line 35 Inventory at Beginning of Year
    • Line 36 Purchases Less Cost of Items Withdrawn for Personal Use
    • Line 37 Cost of Labor
    • Line 38 Materials and Supplies
    • Line 39 Other Costs
    • Line 40 Add Lines 35 through 39
    • Line 41 Inventory at End of Year
    • Line 42 Cost of Goods Sold
• 7. Figuring Gross Profit
  • Introduction
  • Items To Check
  • Testing Gross Profit Accuracy
    • Example.
  • Additions to Gross Profit
• 8. Business Expenses
  • Introduction
  • Useful Items - You may want to see:
  • Bad Debts
    • Accrual method.
    • Cash method.
  • Car and Truck Expenses
    • Office in the home.
    • Methods for Deducting Car and Truck Expenses
    • Reimbursing Your Employees for Expenses
  • Depreciation
  • Employees' Pay
    • Fringe benefits.
  • Insurance
    • How to figure the deduction.
  • Interest
  • Legal and Professional Fees
    • Tax preparation fees.
  • Pension Plans
  • Rent Expense
  • Taxes
  • Travel, Meals, and Entertainment
    • Transportation.
    • Taxi, commuter bus, and limousine.
    • Baggage and shipping.
    • Car or truck.
    • Meals and lodging.
    • Cleaning.
    • Telephone.
    • Tips.
    • More information.
  • Business Use of Your Home
    • Exceptions to exclusive use.
  • Other Expenses You Can Deduct
  • Expenses You Cannot Deduct
• 9. Figuring Net Profit or Loss
  • Introduction
  • Net Operating Losses (NOLs)
  • Not-for-Profit Activities
• 10. Sample Returns
  • Preparing the Return for Susan J. Brown
    • Schedule C
    • Form 4562. Depreciation and Amortization
    • Schedule SE. Self-Employment Tax
    • Form 1040
  • Preparing the Return for Stanley Price
    • Schedule C-EZ
    • Schedule SE. Self-Employment Tax
    • Form 1040
• 11. Your Rights as a Taxpayer
  • Declaration of Taxpayer Rights
  • Examinations, Appeals, Collections, and Refunds
    • By mail.
    • By interview.
    • Repeat examinations.
• 12. How To Get More Information
  • Internal Revenue Service
  • Small Business Administration
  • Other Federal Agencies
• Index