Since most people that are audited because of missing records, not because of dishonesty, the key to avoiding the tax man is to have organized, efficient systems to keep your business income in check.
Here’s a solution for you. Separate all of your documentation by categories. You may want to consider categories for advertising, travel, auto […]
Those consider capital expenses are wondering, how do I know if something falls under a capital expense or a current expense?
It is a perplexing consideration. Under tax law, anything that will help you to generate a business income over several years is considered a capital expense. For example, if you invest in a copier for […]
Business travel expenses are one of the most looked at by the IRS. Deductions in these expenses are just fine, in most business travel cases. But, what if you want to take your family along with you? Perhaps you have a business trip in New York and the family wants to spend a few days […]
Ready To Start That Small Business?
Starting your own small business is an amazing idea. Unfortunately, Big Brother is looking over your shoulder as you do it. Those that are considering starting their own business need to know what to do to keep the IRS off their backs.
There are many things that you can and should […]
We all start out the year determined to keep a notebook in our car to write down all the mileage associated with visits to clients or attendance important meetings. By thend of the month, we’ve been too busy to keep up with it. It is important to maintain records as they will allow valuable deductions […]
Small business has many benefits when it comes to the world of tax. Software programs along with other subscriptions that you have associated with your business DO apply as deductions as they are part of your business expenses.
Originally, the cost of software and other such subscriptions could only be deducted by depreciating the cost over […]