Category Archives: tax reduction strategies
Small Business Tax Deductions: How to Deduct All Your Medical Expenses
Looking for a legal way to deduct all our medical expenses on your small business income tax return? Read on. The tax rules make it very difficult, if not impossible, to do so on your personal income tax return. First, … Continue reading
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
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
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
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
4 Reasons to Not Have a Yard Sale
The purpose of this article is to persuade you to not have a yard sale this year. Instead, why not give all your stuff to a charitable organization? I can think of at least four reasons to adopt this motto: … Continue reading
How To Get A Big Refund By Filing An Amended Return
Ah, April 15 has come and gone. Aren’t you glad another Tax Season is over? Ah, yes — another tax return filed, another tax return “in the books.” Well, I’ve got a pleasant surprise for you. Did you know you … Continue reading
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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