Are you self-employed? Do you really know what you are doing when it comes to handling the income and expenses associated with your business? Tax laws can be very hard to follow making tax time treacherous. Do you know if you can claim home office expenses as a deduction on your taxes? What does it take to qualify for home office deductions? You may be surprised at what you can actually write off. My site will answer all of your questions about self-employment and taxes. Hopefully, the information included can assist you in reducing your tax bill and avoiding the dreaded audit.
Posted on: 5 May 2018
If you are planning to start a small business and want to be sure that you're covering the important basics, there are a number of things that you will want to keep in mind. There are some business facets that will serve you as long as you stick to the basics and get professional help when needed. To this end, make sure that you take heed of the points below so that your small business is better for it. [Read More]
Posted on: 28 February 2017
If you make your living as a blogger, here are three things that you need to make sure that you include when you file your taxes. This information can help lower your tax liability and your tax bill. #1 Health Insurance Costs Many independent contractors are not aware that they can actually deduct their health insurance costs. As an independent contractor, you can deduct the entire cost of your premium that you pay for health insurance for yourself and your family. [Read More]
Posted on: 20 January 2017
Wouldn't it be nice if you could count your pets as dependents? After all, they certainly depend on you -- an ill pet can easily cost as much as a child. Unfortunately, pets aren't considered necessities by the Internal Revenue Service (even though they might feel that way to us). Because of that, there are very few pet-related costs that can actually be tax deducted. If you want to get the most out of your deductions, you're going to have to focus on these three issues. [Read More]
Posted on: 29 December 2016
If you're going to be retiring on a budget—especially if fixed income sources like Social Security are a primary part of the plan—it's important to find ways to control and plan for costs. But, with so much about retirement always being up in the air, that can seem like an impossible task. However, you can control some retirement expenses with some pre-planning. Here are a few tips for controlling expenses in three categories: taxes, health care, and housing. [Read More]