Book Review: ‘Small Time Operator: How To Start Your Own Business, Keep Your Books, Pay Your Taxes, And Stay Out Of Trouble’

Business Finances

Young new, small business owner, smiling with black apron on

Starting a business is a big challenge. You need to learn everything there is to know about an industry, and you have to do it all on the fly, by the seat of your pants. You’ve got to build relationships with customers, advertise, hire and manage employees, and do most of the work yourself.

Beyond these challenges, there’s also the behind-closed-doors challenges of the business such as:

  • Managing your books
  • Keeping the insurance companies happy
  • Keeping the IRS from knocking on your door

Fortunately, there’s a fantastic reference to solve issues like these.

“Small Time Operator” is a step-by-step guide to turning your great idea into a functional business.

The author, Bernard Kamoroff, is a CPA with two decades of experience helping small business owners get from idea to business. His experience is evident throughout the book, which is long on information and light on anecdote. It’s much more of a reference text than a book that one might sit down and read cover to cover.

There are also sections on the different filing rules for different organization types, which could save a small business owner thousands in taxes. Rules and regulations about insurance designed to protect owners from the legal hazards of running a business are also vitally important to the burgeoning entrepreneur.

Critics of the book point out that there’s not much beyond the basics. However, it’s important to keep in mind Kamoroff is writing for the true business neophyte and not for the seasoned veteran.

The new edition of the book has been updated for the new millennium. The extra chapters on online-only freelance work will appeal to moonlighters and side liners looking to make sure their second stream of income is legitimate. There’s something to be had for business owners of all sizes.

Overall, Kamoroff’s book is full of useful, factual, up-to-date information. Keep it at your desk. You’ll probably need it soon enough!

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