In case the first five tax deductions weren’t enough (and let’s face it, you can never have too many tax deductions!), here are five more deductions that can save you a lot of money come tax time.
6. Professional Fees and Classes Deductions. You may have already known that you can deduct certain office equipment, your home office supplies, and health insurance, but did you know that you can also deduct many of the other costs of having a job? Any professional fees that you pay to continue in your career are deductible on your tax return, as well as much of the costs of attending classes, seminars, and training sessions. Subscriptions to professional journals, newspapers, and books are also included as tax deductions. Finally, don’t forget any membership fees you pay to trade organizations, professional groups, or chambers of commerce! All of these things will earn you quite a large deduction on your tax return as long as you keep track of what you spend and save your receipts. Continue reading
January is winding down meaning that tax season is officially upon us. Gone are the carefree days of the holiday season and now the inevitability of taxes is looming ahead. Don’t lose heart though! Paying taxes is a requirement but paying too much in taxes is not. 2011 presents new opportunities to excel at preparing your taxes by using the allowable deductions to your advantage. Here are five of the most commonly missed tax deductions. Learn them. Love them. Use them on your tax return this year. Continue reading
While your business may be in the idea or infant stage, it never hurts to keep an eye looking forward. There are so many facets of business to worry about, it can cause confusion or even decision paralysis. Don’t let this happen. Try to take each issue separately as to not become overwhelmed.
Effective marketing is a hurdle entrepreneurs often struggle with. Each entrepreneur dreams of one day having a strong marketing reputation such as companies like Nike and Apple whose marketing has been key to their success. Smaller companies though, must focus on strategies that fit their resources and adapt to their customer base. So though you may be well on your way to being the next Apple, make sure you market your company in a way that is best for you on the business level that currently fits you.
Finding a good accountant can be important as your business grows. Certain accountants have special credentials and their utility should not be overlooked when making important financial decisions. Look through MyCorporation’s CPA Directory partner under the “Professional Guidance” portion of our partner page ( http://www.mycorporation.com/partners/ ) to help make the right choice of accountant for your specific business needs.
Take a look at this article for some quick advice on these two hot topics and continued success from the MyCorp Staff!
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