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One Good Reason to File a Tax Return (Even if You Didn’t Make Any Money)

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.

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Posted by: Wray Rives, March 3, 2010

Comments: 3

Are Facebook Ads Tax Deductible?

Welcome to Outright.com join us to jump into the discussion or ask a question and subscribe here to follow the community
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 [...]

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Posted by: Lisa Shaw, February 27, 2010

Is Google AdWords Tax Deductible?

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.

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Posted by: Paul O'Brien, February 26, 2010

Is Your Latest Killer iPhone App Tax Deductible?

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 [...]

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Posted by: Lisa Shaw, February 24, 2010

Are Pencils Tax Deductible?

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 [...]

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Posted by: Paul O'Brien, February 22, 2010

Is Graphic Design Tax Deductible?

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.

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Posted by: Paul O'Brien,

Are Computer Backups with Services like Carbonite Tax Deductible?

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.

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Posted by: Lisa Shaw, February 21, 2010

Is my Blackberry Tax Deductible?

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;

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Posted by: Lisa Shaw, February 20, 2010

Are Rawhide or Marrow Bones Tax Deductible?

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.

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Posted by: Lisa Shaw, February 19, 2010

Cost of Goods Sold and the IRS

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.

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Posted by: Wray Rives,

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      I have been reading a lot about PayPal lately.  They have a huge market share when it comes to online credit card accep...
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      If AT&T is your phone service provider (or, frankly, this is true of anyone else who is), you can deduct their costs...
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      Even if you were careful not to download worms and viruses from The Google, your computer might misbehave from time to t...
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      If you are not a Marx Brother, you probably bought these to feed and entertain the little ones who attend your daycare (...
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