Surprise! The IRS has some GOOD news for you.
If you’ve set up your business as a C or S corporation, the IRS gives you a cell phone fringe benefit that’s not available to sole-proprietorships or single-member LLCs.
Want to find out more? Easy. All you have to do is read my brand new article titled Tax Tips: Corporations Beat Proprietorships in Tax Deductions for Cell Phones.
Three ways our fact-filled article can help you:
- We’ll explain why the law changed. It took twenty-two years, but lawmakers finally noticed that cell phones were completely out of place in the “listed property” category and removed them from that group when they enacted the Small Business Jobs Act. But the act didn’t address all the tax issues related to cell phones. We’ll explain the situation and what the law means to you when you read the full article.
- We’ll tell you how this new tax benefit works. How you operate your business, (as a proprietorship, corporation, or LLC) makes a big difference when it comes to claiming tax deductions for the cost of a cell phone. You’ll get the whole story when you read the full article.
- We’ll explain what the law means for the sole-proprietor and single-member LLC. For this group, the sole piece of good news comes from the change in the law, not from the IRS. Cell phones are no longer listed property which makes things easier. But there’s a catch, and we’ll explain what it is when you read the full article.