With tax season upon us, here are three videos that may help those of you opting to prepare your own taxes this year. They would also be useful to help you organize your documents for your CPA (more organized documents mean more affordable tax prep!). We are currently accepting new clients for 2013 tax.
Foter.com / CC BY-SA As the calender quickly moves towards the end of the tax year, I’m frequently asked what last second strategies entrepreneurs can use to reduce their taxes. Over the next few weeks, we will discuss some ideas you can implement before year end to reduce your tax liability. December is a busy.
TheAlieness GiselaGiardino²³ / Foter.com / CC BY-SA Charitable contributions are a very misunderstood portion of the tax return. Every year, I have several clients who either try to deduct donations they can’t, or don’t realize they don’t qualify for any deductions for charitable donations. Obviously donating to charity should be about more than maximizing.
kevin dooley / Foter / CC BY Many entrepreneurs have no desire to hire any employees. In some cases, it’s hard to blame them. For some small business owners, employees are a significant expense they can’t afford to invest in. And no matter how extensively you interview, you never know how a new employee.
Using a room in your home as a home office for your business can create a significant tax deduction. But because it is either taken advantage of or simply done incorrectly, the home office deduction is heavily scrutinized by the IRS. Because of this, I highly recommend using a CPA if you are claiming.
If you are a small business owner you have probably heard of the home office deduction. If you haven’t, the home office deduction is a tax break offered to business owners (or in some cases employees) who use a portion of their house as an office. Either way, the home office deduction is one of.
One of the biggest perks of being a small business owner is the ability to turn a large portion of your meals and entertainment expenses into tax deductions. With proper planning and documentation, you are able to turn several of your meal and entertainment expenses into a business expense. For example, if you.