Here are some tips and things to keep in mind when it comes deductions for advertising expense. Read more about the industry you're in here.
Home expenses related to your business may be eligible for deduction. There are a few guidelines and things you should know. Read more.
Office space may be deductible. To find out if your office, building, home office or coworking space is eligible read more here.
Purchasing books, magazines and subscriptions for business purposes can be deductible come tax time. To better understand, read more here.
Employee wages may be a deductible business expense on your Schedule C. To find out more information on requirements, read here.
If you pay franchise, trademark, or trade names fees, these costs generally are considered deductible business expenses. Read more here.
If you travel for a convention, seminar or trade show, you may be able to deduct certain things. Ex. Sometimes travel, food, lodging and the event itself.
Contributing to your retirement plan as a self-employed professional opens up additional tax credits and benefits. Learn about the 'Savers Credit' by clicking here!
In certain circumstances, a bad debt expense can be fully deductible. Read how this may apply to the industry you are in.
Understanding what amortization is can help you with deductions, based on the industry you are in. Read more here.
The fees your bank may charge including but not limited to wire transfer fees, check fees, overdraft fees, and service charges can be deductible.
Commissions paid are generally fully deductible business expenses. Find out how much of a deduction your line of business can receive.
Business owners entertain customers, employees and clients over meals every now and then. Meals may be deductible as a business expense. Read more.
Collecting debts owed can come at a collection expense. These expenses will generally be deductible. Read more here.
The research credit can shield some of your professional business income from taxation if you perform technological research as part of your business. Learn about the credit here.
In most cases you can deduct insurance expenses related to your business. Before deducting, read more here or discuss with your tax advisor.
Fringe benefits can be a strategic method for an employer to save on taxes while still benefiting the employee. Find out more about the tax implications here.
Tax preparation fees are usually deductible. Find out what tax preparation fees are eligible for deductions. Read more here.
To elect to be taxed as an S corp you must be an eligible domestic corporation. To see the benefits and know more, click here.
Do you know all the important information related to C Corporation taxes? If you need insights or guidance, read our article here to get tips.
If you manufacture or purchase inventory for resale, the costs you incurred may be deductible as a cost of goods cold. Read more here.
A standard deduction is a fixed dollar amount defined by the IRS that varies based on your filing status. Here's what to know about standard deductions.
The DPAD was introduced to provide tax incentives to U.S. manufacturers, however, many small business owners may be eligible to these deductions.
If you purchase office furniture or equipment for business purposes, you may be eligible for an office furniture tax deduction. Read more here.
