CCH Business Owners
Toolkit Tax Guide 2002 Helps Entrepreneurs Take Charge Of Their Taxes
Fourth Edition of Popular Guide Bundled with
Free Online Income Tax Preparation and Filing for Total Tax Solution
(RIVERWOODS, ILL., December 19, 2001) CCH INCORPORATED (CCH), a
leading provider of tax law information for companies and business professionals, today
announced CCH Business Owners Toolkit Tax Guide 2002, created
specifically to help small, single-owner businesses manage their taxes and prepare their
2001 tax returns. The fourth edition of the popular reference includes free income tax
preparation and filing with CompleteTax (completetax.com), CCHs easy-to-use online tax return service. The
book will be available in bookstores nationwide beginning in January 2002.
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 2002 combines CCHs
small business knowledge with its decades of authoritative tax law and tax preparation
software expertise. The result is a resource entrepreneurs can use year-round to plan and
manage their taxes as well as file their returns.
"Reducing the tax burden continues to be one of the single-most important concerns
for small business owners. Fortunately, many small business owners stand to gain from the
tax legislation of 2001. But they need to understand what the laws are, how they apply and
when they take effect if theyre to fully capitalize on tax saving
opportunities," said Drew Snider, publisher of CCH Business Owners Toolkit
Tax Guide 2002. "Over the last several years, the Tax Guide has earned the
reputation among small business owners as the authoritative source for accurate,
easy-to-understand information that can help readers save time and money."
CCH Business Owners Toolkit Tax Guide 2002 provides entrepreneurs with the
information they need to correctly complete their filings, thereby lessening the
possibility of an audit. In addition, its filled with tips, examples and guidelines
on how to minimize taxes by taking advantage of all the existing laws and regulations
available to the small business owner.
The Entrepreneurs Best Source for This Years Tax Preparation
CCH Business Owners Toolkit Tax Guide 2002 offers clear, step-by-step
explanations and tools covering all facets of tax planning and preparation, including:
- Getting organized and preparing taxes for the 2002 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, healthcare 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.
"There are a variety of opportunities for small business owners to help reduce
their tax obligation, but unless they understand the rules, what may seem like a savings
can ultimately end up costing a lot," said Snider. "For example, some small
business owners may realize a short-term savings in their taxes by taking the home office
deduction, only to find they owe taxes on capital gains a few years from now when they go
to sell their homes.
"Other small business owners may be contemplating moving to a corporate structure
to lower their personal taxes, but with the reduced income tax brackets that started going
into effect in 2001, this may not end up saving them anything in taxes and end up costing
them more to administer. Tax Guide 2002 presents the information these owners need
to make informed situations that best meet their particular situation."
Also, 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.
Planning for 2002 and Beyond
In addition to providing the information entrepreneurs need to complete their 2001 tax
returns, Business Owners Toolkit Tax Guide 2002 offers detailed discussions
of the tax changes that small business owners need to be aware of as they begin planning
"Small business owners are among the largest segment of taxpayers expected to
benefit just from the reductions in marginal tax rates that are part of the 2001 Tax
Relief Act, said Snider. "But there are a host of other tax changes, including those
related to estates, retirement and education, that Tax Guide highlights to help
entrepreneurs start planning wisely for the future."
Helpful Tools for Year-Round Use
Business Owners Toolkit Tax Guide 2002 also includes an extensive glossary
providing plain-language definitions of tax terms and straightforward descriptions often
needed to decipher IRS instructions. Examples throughout Tax Guide clearly show
entrepreneurs how the issues apply in the real world. Ready-to-use tax forms and a tax
calendar are provided as well 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 2002 will be able to
prepare both a 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 and CompleteTax together provides small business
owners with a powerful solution to navigate the entire tax process," said Snider.
"The book provides the detail entrepreneurs need to effectively understand and manage
their tax situations, while CompleteTax allows them to quickly organize tax
materials electronically, complete their returns and file online."
Also, individuals can rely on the experts at toolkit.cch 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 2002 (ISBN 0-8080-0676-2) is available
in major retail and online bookstores (Barnes and Noble, Borders, amazon.com) nationwide;
via the CCH Business Owners Toolkit bookstore (toolkit.cch.com) or by calling
1-800-248-3248. The 424-page soft-cover book sells for $17.95, plus applicable shipping,
handling and tax.
About CCH Business Owners Toolkit
The same team of tax, financial planning and small business experts who have produced CCH
Business Owners Toolkit Tax Guide are also responsible for developing the
acclaimed online service for small businesses, CCH Business Owners Toolkit (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 a complimentary editorial review copy of Business Owners
Toolkit Tax Guide 2002, members of the press can contact Mary Jung at
email@example.com; or Mary Dale Walters at