Posted:
#51
I used to pay an accountant $200 a year for tax prep but last year I used turbo tax business for $80 and it got all the stuff my accountant used to do.
First, if you work from home write off a portion of it for an office. It's not a red flag for home businesses. If you have an office outside of home then everything in it is a write off.
you can write off either mileage or gas, turbotax has a section where you enter how much you spent on gas and how many miles you use to determine your best value. Oil changes, car washes, repairs etc.
extras: cell phone, office equipment and any tools specific to your business. trade magazines, my business is home improvement and repairs so I write off cable too, HGTV! Office repairs, equipment repairs etc.
You can write off charity up to $300 without having to show proof. So think about how many times you gave a homeless guy a couple bucks, or donated a dollar at the store when checking out.
If you use a credit card for your business or credit accounts, then the interest is a write off.
There's a lot, but I would definitely recommend getting turbotax, most accountants use it anyway and just charge you for them to enter in the info.
First, if you work from home write off a portion of it for an office. It's not a red flag for home businesses. If you have an office outside of home then everything in it is a write off.
you can write off either mileage or gas, turbotax has a section where you enter how much you spent on gas and how many miles you use to determine your best value. Oil changes, car washes, repairs etc.
extras: cell phone, office equipment and any tools specific to your business. trade magazines, my business is home improvement and repairs so I write off cable too, HGTV! Office repairs, equipment repairs etc.
You can write off charity up to $300 without having to show proof. So think about how many times you gave a homeless guy a couple bucks, or donated a dollar at the store when checking out.
If you use a credit card for your business or credit accounts, then the interest is a write off.
There's a lot, but I would definitely recommend getting turbotax, most accountants use it anyway and just charge you for them to enter in the info.
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