Part 1. Organization. Business organization -- Tax year and accounting methods -- Recordkeeping for business income and deductions -- Part 2. Business income and losses. Income or loss from business operations -- Capital gains and losses -- Gains and losses from sales of business property -- Part 3. Business deductions and credits. Employee compensation : salary, wages, and employee benefits -- Travel and entertainment expenses -- Car and truck expenses -- Reparis, maintenance, and energy improvements -- Bad debts -- Rents -- Taxes and interest -- First-year expensing, depreciation, amortization, and depletion -- Advertising expenses -- Retirement plans -- Casualty and theft losses -- Home office deductions -- Medical coverage -- Deductions for farmers -- Domestic production activities deduction -- Miscellaneous business deductions -- Roundup of tax credits -- Part 4. Tax planning for your small business. Income and deduction strategies -- Tax strategies for opening or closing a business -- Tax strategies for a sideline business -- Tax strategies for multiple businesses -- Alternative minimum tax -- Other taxes -- Online filing and information.