What Are Tax Write-Offs for Small Business?
Tax write-offs for small businesses are deductions that are allowed by the Internal Revenue Service. The write-offs come off the bottom line, and the small business owner pays taxes on the amount that's left after deducting the allowable expenses. Small...
To be deductible, a business expense must be both ordinary and necessary. ...
on Cost of Goods Sold, Publication 334, Tax Guide for Small Businesses and the
It's simple: The more tax deductions your business can legitimately take, the
lower its taxable profit will be. Also, in addition to putting more money into your ...
Small business tax rule number one is don't mess with the IRS. But don't cheat
yourself either. Here are a dozen tax deductions that even savvy small-business
You also can write off
a newly purchased vehicle (even if it's bought second-hand) in one deduction or through depreciation, which lets you write off
parts of business
equipment costs over several years.
The IRS stipulates that personal auto use cannot be written off
a... More »
Apr 11, 2011 ... With a small-business venture in your life and on your tax return, you may be able
to convert some personal expenses to business expenses, ...
Since deducting expenses from your top-line revenues reduces your tax burden,
it's easy to be too aggressive in claiming them. However, not.
Whether you do contract work or have your own small business, tax deductions
for the self-employed can add up to substantial tax savings.
TurboTax will show you the money-saving tax deductions you can take as a small
As a small business owner, tax season can be a stressful time. With all of those
forms to mail to employees, expenses to track, and checks to write to the IRS, ...