Lower Your Taxes - BIG TIME! 2023-2024 by Sandy Botkin Review
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Overall Rating
Lower Your Taxes - BIG TIME! 2023-2024: Small Business Wealth Building and Tax Reduction
Sandy Botkin's Lower Your Taxes - BIG TIME! is a perennial bestseller for small-business owners — here is what the 2023-2024 edition delivers and where you should still verify against current law.
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TL;DR
Former IRS attorney Sandy Botkin distills his audit-side experience into a strategy book that pushes small-business owners and real-estate investors to claim every legitimate deduction the code allows. The 2023-2024 edition refreshes thresholds and adds notes on post-Tax Cuts and Jobs Act planning, but the real value is the framework: think like an entrepreneur, document like an auditor.
Why It Matters
Most solopreneurs leave thousands on the table every year because they do not know which expenses qualify, how to document them, or how to position their business for the most favorable treatment. Botkin's central thesis — that tax planning is a year-round activity, not an April scramble — is the mindset shift that often pays for the book a hundred times over.
Key Specs
- Author: Sandy Botkin, CPA, former IRS trial attorney
- Edition: 2023-2024
- Length: ~400 pages
- Format: paperback and Kindle
- Topics: deductions, entity structure, real estate, retirement, audit defense
- Audience: U.S. small-business owners and real-estate investors
Pros
- Insider perspective from a former IRS attorney
- Strong treatment of vehicle, home office, and travel deductions
- Real-estate chapters cover depreciation and 1031 exchanges clearly
- Audit-proofing checklists are genuinely useful
- Updated for the most recent law in print at the time of publication
Cons
- Some strategies are aggressive — verify with a CPA before implementing
- Tax thresholds and phase-outs change yearly
- Less detail on multi-member LLCs and partnerships
- Real-estate sections may overshoot what a typical service business needs
Who It's For
Sole proprietors and LLC owners earning $50K+ from their business, real-estate investors with one or more rentals, and anyone considering an S-corp election. It is also valuable for high-W-2 earners with a side business who want to understand how to structure that side hustle for maximum tax efficiency.
How to Use It
Read the deduction chapters first, mark anything that might apply, and build a documentation routine — mileage app, receipt scanner, monthly review — before you try the more advanced strategies. Treat the audit-proofing chapter as a checklist you revisit every January when you finalize the prior year.
How It Compares
More strategic than J.K. Lasser's annual guide and more aggressive than Nolo's Tax Savvy for Small Business. Less academic than Bradford Tax Institute material but covers similar ground. Pairs well with a current-year tax software like TurboTax Self-Employed or H&R Block Premium.
Bottom Line
A worthwhile read for any U.S. small-business owner who wants to stop overpaying. Pair it with current-year IRS guidance and a CPA review for the most aggressive moves.
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