Small Business Tips

How to Deduct Business Expenses on Your Tax Return

How to Deduct Business Expenses on Your Tax Return

Deducting your business expenses when you do your income taxes can be quite valuable because the more deductions you have, the lower your taxable income will be. Let's walk through how to deduct your ...Read more

How Small Businesses Get in Trouble with the Government

How Small Businesses Get in Trouble with the Government

If you own a small business, it might seem like there are an infinite number of ways you can get in trouble with the government. This is not quite true—the number is not infinite. Here are the four ...Read more

Congress Increases 2014 Depreciation Limits for Passenger Automobiles

Congress Increases 2014 Depreciation Limits for Passenger Automobiles

If you purchased a vehicle in 2014 that you used for business, you get to deduct your business driving expenses for the year. There are two ways to do this: (1) you can use the standard mileage rate, ...Read more

Deducting Entertainment and Meal Expenses For Business

Deducting Entertainment and Meal Expenses For Business

Some of your most important business meetings, client contacts, and marketing efforts may take place at restaurants, golf courses, or sporting events. The tax law recognizes that much business is ...Read more

Who Must File Inventory Tax? Advice for Small Businesses

Who Must File Inventory Tax? Advice for Small Businesses

Each of the 50 states has its own tax system that funds state and local government. State taxes vary from state-to-state. Things like the inventory tax can hit small business owners particularly ...Read more

Depreciating Your Business Property

Depreciating Your Business Property

One of the nice things about having your own business is that you can deduct the money you spend for things you use to make money in your business, such as computers, cars and other vehicles, and ...Read more

Deducting Home Office Expenses

Deducting Home Office Expenses

If you elect to work from home, the federal government allows you to deduct your home office expenses from your income taxes. This is so whether you own or rent your home. Although this tax deduction ...Read more