Posts Tagged ‘Deductions’
Top Tax Write-Offs That Could Get You in Trouble with the IRS
From travel expenses to paying wages to family members, there’s no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you’re trying to write off go too far?
Read More 6 Things You Can Do This Fall to Prepare for the 2015 Tax Season
Fall has finally arrived. Believe it or not, this means the 2015 tax season is only about 3 months away. Because filing your taxes with the IRS is probably not your most favorite activity, there are some steps you can take this fall to prepare for a stress-free filing season early next year:
Read More Why Tax Breaks Could Be the Key to Startup Success
Caps often limit how much entrepreneurs can deduct in a year, and every dollar counts in the startup space. If the following tax-break options were available, many more startups could survive the competitive entrepreneurial landscape.
Read More R&D Tax Credit Can Now Be Claimed on Amended Returns
With so many rules and regulations in the small business landscape, entrepreneurs across the nation are rejoicing over some much welcome news from the IRS and the U.S. Treasury Department that could help save them a ton of money.
Read More Can You Rent a Separate Apartment as a Business Space?
So you go out to find some place to work out of. Then it hits you, why not rent an apartment and work out of there? It may work, but there are some things you need to keep in mind.
Read More 10 Tax Tips for Work-at-Homers
When you file taxes as a solo business owner, things are more complicated than those days when you may have a received a W2 from a single employer. However, you’ve also got plenty of opportunities to trim your tax bill.
Read More $1,500 Home Office Deduction Option: IRS Reminder
The IRS reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home.
Read More Cut Your Taxes Using Your Excess Inventory
Excess, nonmoving inventory is a common business problem that, fortunately, also contains its own solution. By donating that new, idle merchandise to charity, your business can earn a federal income tax deduction.
Read More Don’t Count Out the Home Office Deduction
You may not know this, but you could have a home office on your hands and could be missing out on a major tax break if you ignore this deduction. So how do you know if you actually have a home office, and what can you do with it once you’ve established you have one?
Read More The 3 Tax Tips Post Graduates Need to Know
For post grads in the workforce today, there seems to be one underlying factor consistent in everything you do: save money, make money, and be smart with your money.
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