Education

Healthcare Reform and What it Means for Your Taxes

Love it or hate it the US is going to have healthcare reform legislation. Without hype or opinion, let's take a look at the tax provisions in the legislation just passed, especially as they apply to small business owners.

Posted by: Wray Rives, March 23, 2010

Comments: 5

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

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

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 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.

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

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.

Posted by: Lisa Shaw, February 21, 2010

Are Bridgestone Tires Tax Deductible?

You use your vehicle for business-related purposes such as sales calls, transporting the children or elderly you care for, or delivering Avon products; you live in an area with a snowy winter (which in 2009/2010 seems to be most anywhere). Your vehicle needs to be road-worthy for the driving conditions, and your mechanic or mother [...]

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.

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.

Posted by: Wray Rives,

Is Purell and Other Hand Sanitizer Tax Deductible?

Given the prevalence of flu germs lately, any business that involves working with the public in any capacity can probably call this hand sanitizer a legitimate business expense. It's particularly necessary in a daycare, home care, visiting nurse or pet business where germs of all sorts abound and the clientele are considered more at risk. [...]

Posted by: Lisa Shaw, February 18, 2010