Having good records can help you support your revenues and expenses during a tax or financial statement audit. Here's what you need to know.
Business owners can be very busy. Having someone look after your kids may come up every now and then. Find out if you qualify for a tax credit.
For a full list of Public Transportation Tax deductions read here. When it comes to filing your taxes, make sure you have all the necessary information needed.
Tax preparation fees are usually deductible. Find out what tax preparation fees are eligible for deductions. Read more here.
You can deduct contributions to your SEP, and contributions to the plans of your employees, which can create significant tax savings for entrepreneurs.
In most cases you can deduct insurance expenses related to your business. Before deducting, read more here or discuss with your tax advisor.
You can deduct a portion of your self employment tax when you file your tax return at the end of the year. Read more here.
As a sole proprietor you should understand the pros and cons of doing so and compare its features to those of other organizational structures.
Credit card and merchant fees are sometimes deductible on your taxes. To find out more, and how to ensure you qualify, read here.
As a business owner, you may be eligible to deduct repair and maintenance expenses you incur in the course of operating your business.
Contributing to your retirement plan as a self-employed professional opens up additional tax credits and benefits. Learn about the 'Savers Credit' by clicking here!
Being self-employed, you may be ables to deduct clothing costs for business. Find out what type of clothing is deductible and if you're eligible.
Did you know a portion of business startup costs you incur and some organizational costs you incur can be deducted in the year you open your business?
If you are a business owner who subsidizes all or a portion of your employee's health care coverage, you may be eligible to claim a tax credit. Read more.
If you contribute to a traditional IRA you could be eligible for deductions come tax filing time. Read more on how to be eligible here.
Each quarter, the IRS requires that these taxpayers make estimated quarterly tax payments. It is important that business owners plan for this! Read more.
Understanding tax basis vs book accounting are two different things. Leveraging both can help you and your business succeed at tax time.
The DPAD was introduced to provide tax incentives to U.S. manufacturers, however, many small business owners may be eligible to these deductions.
A standard deduction is a fixed dollar amount defined by the IRS that varies based on your filing status. Here's what to know about standard deductions.
If you're travelling for business, you may be eligible to deduct meal expenses and incidental expenses using a per diem rate. Read more here.
Website costs to acquire, design, maintain and market your site are common business expenses that may be eligible for deduction. Read more here.
As a business owner you are allowed to deduct certain business gift costs, subject to limitations of course. Learn how to deduct business gifts.
Health insurance premiums you pay for yourself and your family may deductible. Here's what you should know about self employed health insurance deductions.