Customer Reviews

Minding Her Own Business: The Self-Employed Woman's Guide to Taxes and Recordkeeping

5 star:		(6)
4 star:		(3)
3 star:		(0)
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A friend recommended this book to me because I just started my own computer consulting business last year and I also was paid as an independent contractor. At first I wasn't going to get it because the title made it seem like it was directed to women. But I looked through my friend's copy and realized I wanted my own. The examples used in the book are all women's names but otherwise there's nothing that's just for women. It's really clearly written and has a lot of information about deductions and estimated tax payments -- the two areas I was the most unsure of. Also, the tax forms that need to be filed are shown and, although I'm using Turbo Tax to do my return, I was able to compare those forms to what came out of Turbo Tax so that I know (or at least am pretty sure!)that I've done everything right. I think this book will really save me hundreds of dollars in accounting and tax prep fees.

Jan Zobel is an enrolled agent with the IRS and has prepared over 6,000 tax returns. Her book, "Minding Her Own Business: The Self-Employed Woman's Guide to Taxes and Recordkeeping" draws upon her experience to help people new to small business get a basic understanding of recordkeeping, accounting, and taxation issues that affect small business.

The book covers setting up a receipts sheet and a disbursement schedule. "Minding Her Own Business" is written mainly for sole proprietors. The book is much like a "Small-Time Operator" for women.

If you wonder what expenses are deductible or how to minimize the chances of an IRS audit, the book has excellent chapters. One hint from Zobel's experience is "The More you break down your expense categories, the less chance of being audited." The advice is solid.

There is also an excellent discussion of the difference between independent contractors and employees. (this info is widely available free online) And, another great chapter discusses (with worked-out example) of how to make your quarterly estimated tax payments.

The only weakness of "Minding Her Own Business" is that it only teaches single-entry bookkeeping and not the more robust double-entry accounting. (And, there are many good introductions to basic recordkeeping for business owners) Yet, the simplified single-entry accounting is still preferred by many small business owners. Also, given Zobel's vast experience, I would like to see a chapter devoted to S-Corporation taxes and a more thorough discussion of financial statements.

Overall, if you are new to taxes and recordkeeping, I recommend this book.

Peter Hupalo, Author of "Thinking Like An Entrepreneur."

Fabulous book! I've read several books on this subject, and after reading this one-I'm getting rid of all the others. This book answered every one of my questions. Very easy to find the info you need, and very easy to understand. Highly recommended!!

After working with small businesses and taxes for over 20 years, I've come to the conclusion that the fastest way throw money away is to start a business - without knowing how to do your books.

About half of my tax practice involves working with new clients who have gotten into trouble with IRS because: 1) Once they started a business, they didn't know how to figure out their tax returns. 2) They got into trouble with payroll taxes - by not filing them, or not paying them, or thinking they didn't have employees 3) Their business did well, but when it came time to pay the taxes on their successful business, there was no money.

Well, I don't want to see more people in trouble. So, ever since I discovered Jan's book, I have been telling my readers and clients to buy it.

They LOVE the book (and not just the women, either). Jan puts information in terms YOU will understand.

And with all of her years of experience, she knows just what kind of problems real people run up against. So there are lots of practical tools and tips to help you succeed, not just to keep your taxes in line.

And let me tell you, the price of Jan's book is much less than a three-hour consultation with me! (or any tax pro)

I found this book to be quite understandable. Jan manages to make herself clear to someone who hates the paperwork involved with running a small business. I have been reading the book over again for the year 2000's taxtime and find that I understand even more what kind of paperwork and records I should be worrying about and how I should be keeping them.

I've used this book and it more than answers my questions. Jan also does workshops in the SF Bay Area and elsewhere. I took one and especially appreciate (and use) her step by step method of figuring one's quarterly taxes.

Those of us who are contractors need this perhaps even more than people who start out thinking that they are "self-employed".

My wife bought this book because she is just starting a small business and Minding Her Own Business had been strongly recommended by the small business development center counselor that she saw. I've been in business for 7 years but decided to take a look through the book too. I was surprised at some of the new information I learned. Althogh this book's title indicates it's for women, the author explains in the introduction that it's really for anyone, particularly those with what she calls "numberphobia". I really agree with her -- there was nothing in it that was unique to women but my wife appreciated that all the examples given were of women in business and there were no assumptions made about the reader having prior knowledge of finances, taxes, etc. I'd really recommend this book for anyone.

Other reviewers make the point well enough that this is a good book. No one yet has mentioned that many other good books for new business owners (such as Stephen Fishman's)cut through the complexity just as well without labeling the reader as a member of a presumed disadvantaged class. Owning a business is as neutral as driving a car; as long as you fill it with gas, it does not care who is driving.

I think the author does a good job of defining the differences of the various business entities, LLC, C Corp, S Corp, Sole Proprietor. I also like the relevant information in Appendix C on various webpages, and other resources that can be helpful.