Education

Hosting & Domain Expenses Categorized for Taxes 374 Different Ways

If you needed proof that your small business taxes are a confusing nightmare, consider web hosting and domain purchases. The IRS certainly doesn't make it easy to understand where the expense for your new domain name should fall; from more obvious Schedule C options such as "Utilities" to the obscure, "Depletion" (does any one know [...]

Posted by: Paul O'Brien, April 5, 2010

Comments: 12

Are my AT&T Bills Deductible?

If AT&T is your phone service provider (or, frankly, this is true of anyone else who is), you can deduct their costs for business. The trick will be to determine whether it's fully or partially for business use. If are hard line (wired phone) runs to a dedicated business location such as office space you [...]

Posted by: Paul O'Brien, March 10, 2010

Is my IT Support from Geek Squad Deductible?

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 [...]

Posted by: Paul O'Brien, March 9, 2010

Are Animal Crackers Deductible?

If you are not a Marx Brother, you probably bought these to feed and entertain the little ones who attend your daycare (The bad news is that they are too young to now who the Marx Brothers are; the good news is that they are also to young to think Richard is one of them). [...]

Posted by: Paul O'Brien, March 7, 2010

Is My Cosmetology License Deductible?

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. [...]

Posted by: Lisa Shaw, March 5, 2010

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.

Posted by: Wray Rives, March 3, 2010

Comments: 3

Is my Verizon Bill Deductible?

You can deduct the costs of your Verizon services if used for business. A hard line (wired phone) running to a dedicated office space in your home (or otherwise) enables you to deduct the base rate of the Verizon service. However, if your home office has a line being used for both personal and business, [...]

Posted by: Paul O'Brien, March 2, 2010

Is the iPad Deductible?

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 [...]

Posted by: Lisa Shaw, March 1, 2010

Comments: 3

Are Facebook Ads Tax Deductible?

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 [...]

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.

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