Education

Is Travel to My State Capital to Make My Voice Heard Tax Deductible?

If there are hearings or debates going on in your state legislature or similar activities relevant to your business (e.g. "Should we allow these wind turbines?") and you want to travel to them to participate on behalf of your business ("Turbines R Us"), you can do that and have it be deductible.

Posted by: Lisa Shaw, February 12, 2010

Seven Simple Tax Slip Ups That Can Trigger An Audit

As tax season approaches people start getting stressed about filing their tax returns. One sure way to draw the attention of the Internal Revenue Service is making a mistake on your return, here are seven of the simplest mistakes people make so you can avoid some extra stress this year.

Forgetting to sign and date [...]

Posted by: Wray Rives, January 26, 2010

Comments: 0

Year End Bookkeeping Checklist

As the end of the year fast approaches, self-employed- and small- business owners are gearing up for tax season. Heading into it we all feel a little overwhelmed, confused, and nervous about dealing with the IRS (okay, a LOT). Below is a checklist that business owners, from freelancers to contractors, home-based businesses to sole-proprietors, should [...]

Posted by: Wray Rives, December 22, 2009

Per Diem for the Self Employed

If you ever worked in a job where you traveled for business, you may be aware of the concept of per diems. Many companies will cover their employees travel expense by paying a fixed amount per day to reimburse the employee for meals and incidental expense while traveling for work. When a company [...]

Posted by: Wray Rives, October 1, 2009

How does the Mileage Deduction Work?

Anyone who uses their personal vehicle for business purposes is allowed to deduct the cost of gas, oil, maintenance and “wear & tear” to operate your car. You can keep track of all your gas, oil, repairs and depreciation during the year and track the miles you drive and then deduct the appropriate costs [...]

Posted by: Wray Rives, August 14, 2009

Tax Deductions that Small Businesses Commonly Overlook

It’s June 15th – estimated taxes are due – and Audrey Shaffer of Audrey Shaffer Enterprises is going to answer all of our pressing questions about commonly overlooked tax deductions. Read this before filing. Maybe you forgot something!
1.) What are some tax deductions that small business owners/sole-proprietors/freelancers commonly overlook?
Mileage is the first one that [...]

Posted by: Jennifer Escalona, June 15, 2009

Comments: 1