Want to know a great way to save money on your taxes, (and save your tax preparer's sanity)?
Organize your paperwork before you hand it over! It sounds insanely simple, but it will save you money, and get your taxes done faster.
After all, you pay a professional to do your income tax return because they have [...]
more
Posted by: Mariette Knoblauch, April 6, 2010
Comments: 2
So if you are an online seller, how do you handle those PayPal fees when it comes to tax time?
more
Posted by: Wray Rives, March 11, 2010
Comments: 6
Even if you were careful not to download worms and viruses from The Google, your computer might misbehave from time to time and even develop some serious hardware issues. It might need a new fan or graphics card, and that might mean a computer repair cost. Call Geek Squad; deduct the cost. If [...]
more
Posted by: Paul O'Brien, March 9, 2010
If you are a hairdresser or beautician, you probably want some reassurance for your customers that you were not solely trained at boot camp. The cost of the cosmetology license so often displayed can be deducted. If you rent a chair or booth at a salon, the cost of the rental is deductible as well. [...]
more
Posted by: Lisa Shaw, March 5, 2010
If you are the proud new owner of the iPad, it will take a bit of finagling to accurately figure out your deduction if it is for business use.
There are several factors to consider:
How long will it stay in use for your business?
The IRS will feel strongly that the iPad will have to have [...]
more
Posted by: Lisa Shaw, March 1, 2010
Comments: 3
An advertisement is an advertisement is an advertisement. They all get deducted under Advertising. Just be sure to keep a record of what you actually paid (This will be in your Facebook account and should be in Outright).
More than your record of it, it might even be a good idea to do a screen capture [...]
more
Posted by: Lisa Shaw, February 27, 2010
Keyword targeted ads are a popular way to attract business online; advertisements placed on Google or, even now Facebook, usually charged on a CPC (Cost Per Click) basis.
more
Posted by: Paul O'Brien, February 26, 2010
If you have designed and created software, such as an iPhone app, the IRS tends to favor that over the purchase of software. You might even be designing accounting software that makes the tax season of everyone involved a little easier (*ahem*).
Other than the computer itself (which is deductible as Office Equipment Expense), any costs [...]
more
Posted by: Lisa Shaw, February 24, 2010
If you use keyword targeted advertisements to promote your business, keep track of what you pay - it's deductible.
Keyword targeted ads are a popular way to attract business online; advertisements placed in search on Google or MSN, or on a cost per
more
Posted by: Paul O'Brien, February 23, 2010
Even in this electronic age, we still use pencils. Sure, artists who sketch with them (supplies) and accountants who chew on them (meals and entertainment?) probably make up the bulk of demand, and let's not forget those scantron tests students take with good old Number 2, but we all have a few lying around [...]
more
Posted by: Paul O'Brien, February 22, 2010