Do you own more than one vehicle? And do you use just one vehicle for business? Then I’ve got good news for you… If you play your cards right, you may be able to claim some hefty tax deductions using assets you already own! Whether you operate your business as a proprietorship or as a corporation, don’t miss the money-saving information we’ve got waiting for you. I … [Read more...]
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Give the IRS an inadequate mileage log and it will crush you
Don’t let what happened to Jim and Martha Flake happen to you. Because of bad recordkeeping, they attracted the attention of the IRS. The result? They had to visit with an IRS agent every two weeks for about a year! How can you stay on Uncle Sam’s good side and avoid the two mistakes that got the Flakes in hot water? Easy. Read my new article titled Tax Tips: IRS Asserts … [Read more...]
Leasing a car? Don’t miss these three overlooked deductions!
If you’re leasing a car that will be used for business purposes, I’ve got good news for you… If you know the ins and outs of the tax law, there are three deductions you can claim that can save you big money. Does this mean you have to spend time studying the tax code and all its rules and regulations? Not at all. We’ve done it for you and boiled all the money-saving … [Read more...]
How to deduct a business trip (when it’s also personal!)
Here’s a question for you… If you drove a long distance to your parents’ home, but spent time doing business research in the library around the corner from their house, would the IRS consider the miles you drove to be “business miles” or “personal miles”? The answer can mean the difference between claiming a fat business deduction or having to pay all your expenses out of … [Read more...]
10 last-minute vehicle tax deductions
The clock is ticking and soon it will be 2014. This means that if you’re thinking about buying or selling a business vehicle, you better get moving! You see, to take advantage of all the tax deductions coming to you, you have to own the vehicle and place it in service before midnight, December, 31. Want to learn how to use 10 last-minute 2013 tax deductions by buying and … [Read more...]