If you are just kicking around the idea of going into business for yourself, you need to read Loopholes of the Rich by Diane Kennedy. The subtitle is “How the Rich Legally Make More Money & Pay Less Tax.” Quite an appropriate title.

Diane Kennedy is a very successful CPA, and boy does she know her stuff. From start to finish, this book is all about making you and your company as tax-leveraged as possible. Did you know that — if you run your own corporation and work as an employee — you can pay yourself a childcare expense? This book is filled with a bunch of tidbits like that.

Worried about the issue of double taxation? If that is why you aren’t going to start your own company, you need to get this book. If you manage your business right, and take full advantage of what the IRS gives to you, double taxation will just become some horror story told around a campfire.

Another worry I’ve come across while talking with people is the issue of liability. With the proper business structure, liability can be reduced or eliminated. Diane covers all of that in this book. It’s a quick and easy read, but it is loaded with information. I’ve read it once, and I’m going to have to read it again so I can get new ideas for running my business the best way possible.

Make a lot of money, and pay less taxes…all legally. Sounds good to me. Here’s a link to the book on Amazon.com, so you can check it out for yourself (just buy it):

Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax