Published April 9th, 2008
There are many benefits of being self employed. Independence, flexibility in work schedule, getting to do what you love, and enjoying some nice deductions from the IRS that lower the amount of tax you pay. Lowering your tax means increasing your income and your net cash flow so make sure you take advantage of every legal deduction you can take.
It is important to know that while seeking the help of professionals is advisable, you always want to make sure to do your own research and check for deductions on your own. Make sure that if there is any ambiguity... Read more
Tags: Accounting, Finance and Accounting, larry Slusser, self-employed, small business, tax deductions, tax write-offs, taxes
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Published January 9th, 2008
With the start of the new year comes the start of a new tax year - yes, it’s time to haul out the files and shoeboxes of receipts and documents and get your business prepared. But if this is your first home-based business, you’ll need to be armed with some valuable information regarding what you can write off.
You won’t find any difference between traditional and home-based businesses when it comes to paying taxes. The income tax remains based on, not how your business operates, but on the type of business you have. Thus, your home-based business is allowed to... Read more
Tags: Accounting, advice, Finance and Accounting, home based business, Rebecca Button, small busienss taxes, tax write-offs, taxes, tips
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Published October 29th, 2007
With the end of the year fast approaching, you may be thinking ahead to taxes and what small business write-offs you can use to your advantage. Most likely you know about the most obvious ones (like business computers and equipment), but there are plenty of other deductions you may not know about. The only way you can use business write-offs to your advantage is if you actually know about them. Here’s a list of several that are commonly overlooked by business owners:
Unpaid invoices - You can claim any non-payment from customers as a loss on your taxes. If you... Read more
Tags: Accounting, Carrie Hinkel, Finance, Finance and Accounting, irs.gov, money, small business taxes, tax write-offs, taxes, travel expenses
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