Archive for Taxes
Haiti Cash Donations Still Deductible Until March 1, 2010 (Today)
Posted by: | CommentsSometimes it seems cold and heartless to think about money and tax deductions. With hundreds of thousands dead and untold masses homeless, not to mention a country destroyed, this can seem like one of those times. On the other hand, when people choose to open their hearts and give money to help those in need, the U.S. Government thanks them in the form of the charitable tax deduction. Typically, donations... Read more→
How To Deduct Property Taxes
Posted by: | CommentsWhen it’s tax season, everyone’s thoughts turn to tax deductions. Financial advisors and accountants alike are flooded with calls from frantic clients looking to save money on taxes by finding new deductions or other 2009 tax tricks. The most common question by far is, “Is this Deductible?” Unfortunately, many tax deductions are either too small to have very much impact on how... Read more→
Business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. Business owners, particularly, single proprietors are often hit with high tax bills because of the Self Employment Taxes. Self-employment taxes, or SE Tax, is so high because it includes taxes that would usually be paid by the employer. As an entrepreneur, the small... Read more→
More Tax Deductions for Small Business Owners and Sole-Proprietorships
Posted by: | CommentsA great tax saving strategy, particularly for higher-income taxpayers is to start a small business. Many expenses that are not deductible for regular Federal Income Taxes are deductible to a business. For example, the mileage deduction is not deductible for personal driving purposes, and mileage driving to work is also not deductible. However, mileage driven for business purposes is tax deductible. While... Read more→
