Posted on 21 July 2008
Here are some tips that can help you save money when dining out. Keep in mind that these tips are intended to help you save money when dining out at a restaurant type setting. In other words, these tips will not be related to fast food establishments for their food is already priced reasonably.
10 TIPS [...]
Posted on 20 July 2008
Is your business missing out on valuable tax deductions you can take for the use of your personal vehicle for business purposes?If you haven’t done so already, you should definitely beat a path to the door of your local office supply store and pick up a notebook for logging the mileage you drive to conduct [...]
Posted on 20 July 2008
If you use a vehicle for conducting business, you can deduct certain automobile costs from your tax bill. This is true even if you use the vehicle for personal and business needs.
Automobile Deductions
The powers that be have historically written sections into the tax code promoting business activities. One of the traditional write-offs has always been [...]
Posted on 20 July 2008
The LLC, or Limited Liability Company, is the new entity of choice for both experienced entrepreneurs and new start-ups. The one-person corporation is being replaced by the one-memnber LLC.
An LLC combines the liability protection of a corporation with the flexibility and ease of filing as a sole proprietorship.
Every small business, even those that in the [...]
Posted on 20 July 2008
With gas prices at an all time high before Hurricane Katrina left her mark on our nation, most Americans were hoping that gas prices would settle down once summer passed. But gas prices have jumped as much as 80 cents a gallon across the country once Hurricane Katrina destroyed the Gulf Coast and impacted all [...]
Posted on 20 July 2008
Deducting Your Auto Expenses
Auto deductions are a very complex topic. So, to clarify, we are not going to attempt to cover all of the intricacies of the subject. Instead, we will cover some of the most-used provisions and provide you with a better understanding of some of the associated issues.
In keeping with one of our [...]
Posted on 20 July 2008
Someone once remarked, “Next to being shot at and missed, nothing is quite so satisfying as an income tax refund.” There’s no question that saving money in taxes is high on everybody’s list of financial priorities, especially small-business owners.
Taxes are an inevitable — and painful — part of every business owner’s life. But there are [...]
Posted on 18 July 2008
As tax time approaches, many home-based business owners begin completing their forms or paying their accountants with trepidation. This nervousness comes from two sources: a fear of being audited and a fear of having to pay a lot. For the most part, both of these fears are unfounded.
For one, audits are rare. In fact, only [...]
Posted on 18 July 2008
Someone once said, ‘the best way to calculate your taxes is…Honestly’. For 2005, add ‘Smartly’ to that and you’ll get to keep more than you make. This April 15th is going to be the day of reckoning for every taxpayer. If you are smart enough with your accounting and keep your eyes and ears open, [...]
Posted on 18 July 2008
As a small business owner, it’s wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004.
Employee Benefit Plans - You may deduct contributions to employee benefit plans (such as health insurance plans and retirement plans). Depending on your circumstances the maximum contribution that you may deduct per employee in [...]