In this week’s Ask the Tax Expert, we cover how to calculate estimated taxes you owe. As you may know, small business owners and self employed workers often have to pay estimated taxes four times a year.
Each week, our resident small business tax expert, Stephen Fishman, answers your small business tax questions. Have a tax question for Stephen? Submit it here.
Question: I am an independent contractor architect. I have an office set up in my house where I check email each morning, and work on an occasional project. Virtually every workday, I drive to the office of my “client.” Can I deduct this mileage, or is it considered commuting? My client is a long term client that I have worked with for 6-7 years. Our working relationship may blur the lines between an independent contractor and an employee relationship.
Small businesses that provide special accommodations for individuals with disabilities serve a vital role in improving accessibility for all, but they often incur significant expenditures in doing so. Fortunately, many of these businesses can receive tax relief through a small business tax credit known as the Disabled Access Credit. Learn about eligible expenses and limitations to claim the Disabled Access Credit with confidence.
Your year-end tax planning can be extremely important when tax season rolls around. When you’re setting up your tax planning before year-end, be sure to include these two things to help lower your 2015 tax bill.