Upgrading To A New Set Off Office Furniture? Get A Deduction, Maybe
It is often the case that needs, styles and function change in the workplace. If you have invested heavily in computers that are now outdated and you want to get something back from them, consider upgrading to a new computer, and filing [...]
Running A Cash Business? The Government Thinks Your Skimming
Cash businesses are often considered for audits mainly because they are the most likely to skim off the top. A cash business is one that operates through mostly cash in hand. For example, if you run a restaurant, vending machines or you run the [...]
Does Electronic Filing Trigger The Audit?
There are rumors flying around about the electronic filing methods in place. Some believe that filing in this manner somehow causes the system to target them more so than others for the audit process. This is, mostly, untrue. The method of filing is less likely to cause [...]
Educational Expenses Can Be Deducted
Those that are in specific types of business often have to keep their education going to actually stay competitive within their business. Lucky for them, some of the expenses associated with this can be deducted in taxes.
Consider your educational expenses. Do you need to keep your education going [...]
Sponsor A Local Little League Team And Write It Off
Did you know that many of the costs of advertising your business are tax deductible? There are hundreds of ways to advertise of course, so does that mean that you can deduct just about anything and get the tax benefit from it?
Be careful here. In [...]
Have To Move For Your Business?
Many people today are moving from one place to the next for their employment, mainly because people have to be where the work is. Good thing that you can deduct some of these expenses as deductions. In most cases, this would have been a nondeductible cost, but if [...]
How Does Social Security Effect Your Taxes
Social Security is less than an ideal situation for most small business owners. That is because if you are self employed, then you will still need to file social security for you and your employee (you also being an employee.) That means that you have to file [...]
Keeping Track Of Key Auto Expenses
No matter which way you plan to deduct your business expenses related to your vehicle, the fact is that you need records to help you. First, keep a log of when you use the vehicle for business especially if it is not used solely for business. Keep a [...]
Using Your Planner To Record Expenses
One of the best ways for you to keep an ongoing log of your business expenses is using your appointment book, your business diary or even your planner. Service businesses are the most likely to use this type of recording method. For example, if you have an appointment [...]
Are You Deducting Professionals Fees?
Although you may not like to talk about it, you probably have several professional fees to pay over the course of your business life. Whether it is an attorney to help you to settle various problems or even your tax professional himself, deducting professional fees from your taxable business income [...]