Tax Deduction Strategies for Small Businesses

Tax Deduction Strategies for Small Businesses

As a small business owner, you can utilize a proactive approach and seize all opportunities available for conducting tax deductions as provided for under the law. Overlooking certain crucial write-offs…

Tax Credit on Car Expenses: Standard Mileage Rate vs. Actual Expenses

Tax Credit on Car Expenses: Standard Mileage Rate vs. Actual Expenses

Many people are still confused on what amount to deduct from their tax for expenses incurred on a personal vehicle’s repairs. They are given two options: deducting the actual expenses…

Theft Loss Deduction -Should you claim it ?

Theft Loss Deduction -Should you claim it ?

Theft Loss Deduction – Understanding what you can and can not deduct The very thought of paying Uncle Sam becomes cumbersome. But again thinking of the benefits that you receive…

car deduction

How to Make Tax Deductions for Cars and Trucks ?

Cost of operating a truck, car or other kind of automobile is tax-deductible when moving and relocating or driving for medical, business or charity purposes. The deduction made corresponds to…

premium tax credit

Premium Tax Credit

Premium Tax Credit Recently, the U.S. government has made some adjustments to the way health care coverage plans are administered to the people. One of these adjustments became feasible in…

tax shelter for business

Tax Shelter Ideas

Tax Shelter Ideas for Small Business Owners In general, a tax shelter refers to a program which allows business enterprises or individuals to either defer or reduce payment of income…

child care tax credit

Child Care Tax Credit

Child Care Tax Credit and Its Advantages Children on their own are miracles. They make life more exciting and put a smile on your face every single day. In addition…

Am I Going To Have To Work Forever Because I Am Self-Employed?

Am I Going To Have To Work Forever Because I Am Self-Employed?

When you are self-employed you rely on yourself to pay your paychecks and insurance. Without any employer, retirement funding and saving falls on you entirely. That can be a lot…

Strategies To Reduce The Net Investment Income Tax

Strategies To Reduce The Net Investment Income Tax

The goal of planning  net investment income tax (NIIT) is to manage the adjusted gross income and net investment in order to reduce the total amount subject to federal tax….

Tax Provisions That Expire In 2013

Tax Provisions That Expire In 2013

There are many tax provisions that are scheduled to expire at the end of 2013. You should consider taking advantage of these provisions while they exist. Tax Breaks For Individuals…