Category Archives: business tax deductions
How the IRS Mileage Rate Increase Will Save You Money
Here’s some good news from the IRS. Effective July 1, 2011 the mileage rate for business miles has increased from 51 cents per mile to 55.5 cents per mile. The IRS sets the mileage rate on January 1 of each … Continue reading
5 More Fabulous Small Business Tax Deductions
For the self-employed person, our beloved tax code is a cornucopia of tax deductions. Last week’s post revealed 5 great tax deductions. In case you missed it, not to worry – here’s the link – https://www.selfemployedtaxdeductionstoday.com/5-fabulous-small-business-tax-deductions/ And while were on … Continue reading
5 Fabulous Small Business Tax Deductions
Without a doubt, the most common tax question I’m asked is “What can I deduct?” So I compiled a list of my favorite tax deductions for small business owners and the self-employed. Here’s the first five. Come back next week … Continue reading
July 4th half-price ebook sale starts now
Hope you have a great 4th of July weekend! To help you celebrate, I’m having a sale this weekend on all 3 of my eBooks: Tax Reduction Toolkit Incorporation Tax Secrets Revealed How to Incorporate Yourself For Free Each of … Continue reading
Free Small Business Tax Workshop
Got any plans this Memorial Day weekend? Perhaps a family cookout or a get-together with friends? Maybe you’re headed to the lake hoping for some warmer temps. When it comes to taxes, for all you small business or self-employed do-it-yourself-ers, … Continue reading
How to Deduct Your Health Insurance
Here is some information from the IRS about a special tax deduction for the self-employed. You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents … Continue reading
More Good News About the Per Diem Method
The last couple weeks I’ve been telling you how to keep receipts in order to document deductible business expenses. Here’s an email I received recently on this topic: Hi Wayne, I have really been enjoying your various articles and blogs. … Continue reading
Posted in business tax deductions, tax record keeping
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How To Deduct Expenses Without Keeping Receipts
The mantra of tax record keeping has remained relentlessly burdensome for decades: “No Receipt, No Deduction”. But fear not, you who loathe the never-ending climb up the mountain of paperwork required by the U.S. tax code. Many of our most … Continue reading
Posted in business tax deductions, tax record keeping
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The Key To Paying Less Tax
Once upon a time, on a very foggy night, the captain of a large ship saw what appeared to be another ship’s lights approaching in the distance. The two were on a course that would mean a certain head-on collision. … Continue reading
Free Report – 30 New Tax Breaks of 2010 Tax Relief Act
The recently passed Tax Relief Act of 2010 has many tax breaks that affect both individuals and businesses. CCH has released an awesome 11-page free report that provides all the details. The first 5 pages are all about personal tax … Continue reading