Monthly Archives: July 2011

How to Get Organized, Audit-Proof Your Return and Save Thousands

In last week’s post, I informed you that the IRS has increased the vehicle mileage rate to 55.5 cents/per mile (effective July 1, 2011).  Yee Haa! https://www.selfemployedtaxdeductionstoday.com/irs-mileage-rate-increase-save-money/ And I also reminded you that the best way to audit-proof your vehicle … Continue reading

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5 Easy Steps to a $5,550 IRS Mileage Rate Deduction

One of the most overlooked small business tax deductions is sitting in your driveway. If you’re not taking a deduction for the business use of your vehicle, you’re overpaying your taxes by hundreds if not thousands of dollars every year. … Continue reading

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4 Critical Steps to Paying Yourself Reasonable Compensation

Are you a shareholder/employee of an S Corporation and not sure how much to pay yourself? This is a common problem and the stakes are high. Pay yourself too much and you’ll end up with a higher tax bill than … Continue reading

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4 Great Reasons to Incorporate Your Sole Proprietorship

Are you a sole proprietor who’s been thinking about forming a corporation? Here are four great reasons to do so. 1. Liability protection. When you operate your business as a sole proprietorship, your personal assets are at risk. Should something … Continue reading

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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

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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

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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

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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

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