CCH Business Owners Toolkit Tax Guide 2001 Now Available
Third Edition of Popular Tax Guide Bundled with Free Online
Income Tax Returns, Filing Offers Entrepreneurs Knowledge for Year-Round Tax Needs
(Riverwoods, ILL., January 26, 2001) CCH INCORPORATED
(CCH), a leading provider of tax law information and software, today announced the
availability of CCH Business Owners Toolkit Tax Guide 2001, created
specifically to help small, single-owner businesses manage their taxes and prepare their
2000 tax returns. The third edition of the popular reference includes free income tax
preparation and filing with CompleteTax, CCHs easy-to-use online tax
return service. The book is now available in bookstores nationwide.
Published by CCH Business Owners Toolkit (toolkit.cch.com), a small
business portal that helps entrepreneurs start, run and grow a successful small business,
Tax Guide 2001 combines CCHs decades of authoritative tax law expertise with the
value of its long-standing leadership in tax preparation and online guidance. Purchasers
of the book will receive free preparation and e-filing of both a federal and a state tax
return through CompleteTax.
"Over the last several years, CCH has become known as a leading resource among
small business owners for accurate, straightforward information thats easy to
understand and apply to their situations," said Drew Snider, publisher of CCH
Business Owners Toolkit Tax Guide 2001. "When it comes to managing taxes, a
complicated topic for just about every entrepreneur, having the level of expertise we can
provide is invaluable in helping small business owners save time and money."
CCH Business Owners Toolkit Tax Guide 2001 provides entrepreneurs with the
authoritative information they need to accurately complete their filings, thereby
lessening the possibility of an audit. In addition, its filled with tips and
guidelines on how to minimize taxes by taking advantage of all the existing laws and
regulations available to the small business owner.
Concise Guidance for the Entrepreneur
CCH Business Owners Toolkit Tax Guide 2001 offers clear, step-by-step
explanations and tools covering all facets of tax planning and preparation. This
years Tax Guide includes a detailed discussion of estimated tax payment
changes for high-income entrepreneurs.
For several years, these entrepreneurs could avoid interest and penalties by paying 105
percent of their previous years taxes in advance. However, starting with their 2000
tax year, those with adjusted gross incomes of more than $150,000 (or $75,000 for a
married person filing separately) must pay 108.6 percent of the previous years taxes
in advance to avoid penalties. For 2001, the rate climbs to 110 percent.
"This is the type of tax change that can sneak up on a small business owner and
result in significant costs, which is why having a resource like the Tax Guide
available to provide you with the ins and outs of tax issues quickly pays for itself," said
Other key topics covered in the book include:
- Getting organized and preparing taxes for the 2001 tax season;
- How to make certain you claim all available business deductions while not stepping over
the line between personal and business expenses;
- How to make the most of the home-office deductions;
- Maximizing often overlooked deductions for auto, entertainment, health care and
- Handling contributions to employee benefit plans and retirement plans for the
- What tax credits are available for different small businesses and how to claim these
- What the IRS looks for in an audit of business activities and the best approach in
dealing with them should they inquire about your business; and
- Determining the best form of business organization and tax implications for those
entities, from sole proprietorships, partnerships and limited liability companies to
corporations or S corporations.
In addition, because entrepreneurs often must focus on personal finance issues as
theyre focusing on their business requirements, Tax Guide also provides a
complete analysis of individual and family income tax issues.
Valuable Tools for Year-Round Use
To help guide entrepreneurs through the process, the book includes an extensive
glossary providing plain-language definitions of tax terms and straightforward
descriptions often needed to decipher IRS instructions, and examples throughout Tax
Guide clearly show entrepreneurs how the issues apply in the real world.
Also included are ready-to-use tax forms and a handy tax calendar so that a sole
proprietor has fingertip access to everything needed to complete basic tax returns and the
timelines for remembering important tax-related events throughout the year.
Combining Print with Online
Purchasers of CCH Business Owners Toolkit Tax Guide 2001 will be able to
prepare both one federal and one resident state income tax return at no charge via CompleteTax.
Electronic filing of the federal return as well as a state return in a state allowing
electronic filings also is available for no charge.
"Using Tax Guide in conjunction with CompleteTax provides the small
business owner both the knowledge and tools needed to successfully navigate the entire tax
process," said Snider. "The book offers the detail entrepreneurs need to be
aware of in effectively understanding and managing their tax situations, while CompleteTax
offers a time-saving tool for electronically organizing tax materials, completing their
returns and filing electronically with the IRS and many state revenue agencies."
Also, book readers can rely on the experts at toolkit.cch.com to ensure they have
timely access to tax law changes throughout the year, as well as helpful guidance from CCH
columnist, Ask Alice.
Pricing and Availability
CCH Business Owners Toolkit Tax Guide 2001 (ISBN 0-8080-0496-4) is available
in major retail and online bookstores (Barnes and Noble, Borders, amazon.com) nationwide;
via the CCH Business Owners Toolkit bookstore (www.toolkit.cch.com) or by calling
1-800-248-3248. The 432-page soft-cover book sells for $17.95, plus applicable shipping,
handling and tax.
About CCH Business Owners Toolkit
CCH Business Owners Toolkit Tax Guide 2001 is the third edition of CCHs
popular Tax Guide title and is one in a series of several CCH Business Owner's
Toolkit books dedicated to helping small business owners start, run and grow their
businesses. The same team of tax, financial planning and small business experts who have
produced this book series are also responsible for developing the acclaimed online service
for small businesses, CCH Business Owners Toolkit (www.toolkit.cch.com).
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in 1913 and has served
four generations of business professionals and their clients. The company annually
produces more than 700 electronic and print products for the tax, legal, securities,
financial services, human resources, health care and small business markets. CCH is a
wholly owned subsidiary of Wolters Kluwer North America. The CCH web site can be accessed
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EDITORS NOTE: For members of the press, a complimentary editorial review copy
of Business Owners Toolkit Tax Guide 2001, contact Mary Dale Walters at
847-267-2038 or firstname.lastname@example.org.