Small Time Operator, Table of Contents:

• Foreword: Be Your Own Boss

• SECTION ONE: GETTING STARTED

• A Small Time Operator: A True Story

• Kinds of Business

• Can You Do It?

• Your Idea, and the Market

• Business Location

• Zoning

• Leases

• Rural Businesses

• Financing

• How Much Do You Need?

• Start Up Capital

• Self Financing

• Debt Financing

• Bank Loans

• Other Loan Sources

• Small Business Administration (SBA)

• Loans to Yourself

• Equity Financing (Investors)

• Limited Partnerships

• Limited Liability Companies (LLCs)

• Venture Capital

• Legal Structure

• Different Legal Structures

• Sole Proprietorship

• Licenses and Permits

• General Information

• DBA / Fictitious Name Statement

• Local Business Licenses

• Other Local Permits

• State Licenses

• Sales Tax and Seller's (Resale) Permits

• Use Tax

• Other State Regulations

• Federal Identification Numbers

• Federal Licenses

• Federal Trade Commission Rules

• Insurance

• Choosing a Business Name

• The Business Plan

• SECTION TWO: BOOKKEEPING

• Warming Up to an Unpopular Subject

• Why Keep a Set of Books

• IRS Requirements

• Setting Up Your Books

• Hand Posted Ledgers

• Computer Software for Bookkeeping

• Business Bank Accounts

• Bookkeeping Simplified

• Introduction to Single-Entry Bookkeeping

• Cash Accounting Vs. Accrual

• Recording Income

• The Income Ledger

• Sales Returns

• Installment Sales

• Return (Bounced) Checks

• Credit Sales

• Direct Credit

• Finance Charges

• Credit Ledger

• Accounts Receivable

• Your Credit Customers

• Uncollectible Accounts

• Credit Cards

• Debit (Cash) Cards

• Expenditures

• The Expenditure Ledger

• Checkbook and Ledger Combined

• Posting The Ledger

• Uncashed Checks

• Accounts Payable

• Petty Cash

• Calculators and Adding Machines

• Financial Management

• Profit and Loss Analysis

• Cash Flow Projections

• Inventory Control

• SECTION THREE: GROWING UP

• Business Growth

• Hiring Help

• Employees Vs. Independent Contractors

• Steps to Becoming an Employer

• Federal and State Requirements

• Federal Procedures and Taxes

• Family Employees

• Payroll Ledgers

• Partnerships

• General Vs. Limited Partnerships

• Partnership Agreements

• You and Your Partners

• Partnership Bookkeeping

• You, Incorporated

• A Corporation Primer

• Limited Liability

• Change of Ownership

• Owner-Employees

• Retained Earnings

• S Corporations

• Close Corporations

• Steps to Incorporating

• Articles of Incorporation

• Incorporating an Existing Business

• Limited Liability Company (LLC)

• SECTION FOUR: TAXES

• Deep in the Heart of Taxes

• Accounting Period: Calendar Vs. Fiscal Year

• Who Must File

• Which Returns to File

• Filing Dates

• Tax Calendar

• Business Expenses

• Basic IRS Rules

• Start-Up Expenses

• Prepaid Expenses

• 100 Typical Expenses

• Vehicle Expenses

• Interest

• Business Gifts

• Entertainment

• Dues

• Meals

• Freight

• Bad Debts

• Casualty and Theft Losses

• Education Expenses

• Insurance

• Employee Health Insurance

• Moving Expenses

• Repairs

• Travel and Business Trips

• Inventory and Cost-of-Goods-Sold

• Assets: Machinery, Equipment, Furniture, Etc.

• Depreciation

• Donations

• Non-Deductible Expenses

• Self-Employment Tax

• Retirement Deductions

• IRA (Individual Retirement Account)

• SEP (Simplified Employee Pension Plan)

• SIMPLE Plan

• Keogh Plan

• Other Small Business Tax Issues

• Estimated Tax Payments

• Barter

• Operating Losses (NOL)

• Tax Credits

• Tax Software

• Farmers, and Fishermen/Fisherwomen

• The Internal Revenue Service

• The IRS and You

• Business Losses

• Audits

• Penalties

• Failure to File

• Amending Old Returns

• Federal Information Returns

• Excise Taxes

• State and Local Taxes

• State Income Taxes

• Gross Receipts Taxes

• Other State Taxes

• County, City and Local Taxes

• Business Property Taxes

• SECTION FIVE: YOUR BUSINESS

• How to Balance a Bank Account

• Balance Sheets

• Professional Help

• Accountants

• Attorneys

• Bookkeepers

• Husband and Wife Businesses

• Partnership, Sole Proprietor, or Corporation?

• Income and Payroll Taxes

• Spouse as Employee, and Fringe Benefits

• Two Separate Businesses

• Home-Based Businesses

• Types of Business (and Possible Problems)

• Post Office Boxes

• Deliveries

• Zoning

• Housing Restrictions

• Telephones: Home Vs. Business

• Homework Laws

• Insurance

• The Home Office Deduction

• Import and Export Businesses

• Buying a Business

• Independently Owned Businesses

• Franchises

• Business Opportunities

• Freelancers, Professionals, Consultants

• Independent Contractor Status

• Royalties and Advances

• Artists, Writers and Photographers

• Computers

• Do You Need a Computer?

• Hardware

• Software

• Insurance and Taxes

• Legal and Management

• Pricing

• Contracts

• Trademarks

• Patents

• Copyrights

• Filing Your Business Records

• How to Avoid Crooks

• Managing Your Business

• Marketing

• SECTION SIX: THE INTERNET

• Business on the Internet

• Getting on the Internet

• Computer, Modem, Telephone Line

• Internet Service Provider

• E-Mail

• Web Sites

• Accepting Credit Cards

• Laws and Regulations

• Trademarks

• Copyrights

• Patents

• Tax Deductions

• Privacy Laws

• Insurance

• Protect Your Business

• Government Web Addresses

• SECTION SEVEN: THE LEDGERS

• Income and Expenditure Ledgers

• Year End Summaries

• Depreciation Worksheet and Equipment Ledger

• Credit Ledger, Payroll Ledger, Partners' Capital

• Petty Cash Ledger, Inventory Record

• INDEX

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