The IRS estimates that it is holding over $1.3 billion (that's right I said billion dollars) in income tax deposits for individuals that did not file a tax return in 2006. $1.3 billion from just one year and those folks don't have much longer to claim their money.
morePosted by: Wray Rives, March 3, 2010
Comments: 3
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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 [...]
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.
morePosted 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 [...]
Posted by: Lisa Shaw, February 24, 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 [...]
morePosted by: Paul O'Brien, February 22, 2010
So you've hired a designer to work on your website or perhaps create a new log for your business and you want to know if the cost is deductible. Good news! It is.
morePosted by: Paul O'Brien,
Let's assume here that you are not blowing things up. If your business is demolitions (or chasing roadrunners), then carbonite will probably be "inventory." Having a great deal of it might lessen your chances of having an IRS auditor visit you, but you might find Homeland Security taking an interest.
morePosted by: Lisa Shaw, February 21, 2010
First, determine which scenario best fits the definition of your Blackberry:
The blackberry you purchase is a key ingredient in your catering business's signature pie;
morePosted by: Lisa Shaw, February 20, 2010
Your Doggy Day Care clients need snacks and entertainment, and YouCanHazDeduction. If you sell pet products and they are part of your wares, they are also deductible as Inventory.
morePosted by: Lisa Shaw, February 19, 2010
Cost of goods sold can be a difficult concept for small businesses. Cost of Goods Sold is the cost to produce or acquire the products that you sell.
morePosted by: Wray Rives,
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