Home Business Tax Information
My hope is that you can use this Home Business tax information to help you get started understanding and taking advantage of the tax deductions you are alloted for your home business or blog. By all means, if you don't understand something, check with an accountant or tax expert to help you unravel the I.R.S. tax code.
I do use Quick Bfor my tax preparation.
Please check with your home state's tax code as some states may differ in their tax language.
Start taking advantage of your Home Business deductions today. I can't emphasize enough to document everything. Use the list below to help you start deducting today.
I need to add this disclaimer, use this tax information as a guide.
Please contact a tax professional to discuss your particular tax
situation.
Happy Deducting,
Kelly Wissink
Internet Marketing Specialist
Table of Contents
- 46 Tax Deductions That Bloggers Overlook
- Organize Your Tax Deductions
- Marketing Expenses
- Office Supply Expenses
- Office Equipment
- Multi-Media Expenses
- Travel Expenses
- Internet Expenses
- Educational Expenses
- Trade Show Expenses
- Tax and Accounting Software
- Tax Links
- Network Marketing and Beyond Blog
- Tax Deduction Feedback
46 Tax Deductions That Bloggers Overlook
- 46 Tax Deductions that Bloggers Often Overlook
- But what constitutes a proper deduction is another story - and bloggers usually err on the side of not deducting enough (and not the other way around).
Organize Your Tax Deductions
Document Everything
It is important to be organized from the start. I shop at my local Staples or Office Depot to get my office supplies.
Save all your receipts that are business related. Label each file in your accordion file folder with a month. Place all your paper clipped receipts by month.It's important to keep accurate records.File cabinets are great too if your have room in your home business office.
Keep a mileage log book in your vehicle.
Marketing Expenses
- business cards
- brochures
- flyers
- stickers and labels
- cd's
- copying
- printing
- letterhead
- stationary and envelopes
- thank-you cards
- product give aways
- advertising- Newspaper, magazine, radio, TV, internet
- business checking account
Office Supply Expenses
- envelopes
- postage
- shipping
- printer paper
- printer ink
- pencils , pens, markers, highlighters
- notebooks
- post-it notes
Office Equipment
- Computers and repairs
- printers
- fax
- copy machine
- answering machine
- furniture
- office space
- file cabinets
Multi-Media Expenses
- Cell phone, phone bills
- PDA
- digital camera
- video recorder
- iphone, ipod
- voice recorder
Travel Expenses
- Mileage
- tolls, parking fees
- airfare
- trains, subways, bus fees
- lodging
- meals
- conferences
- conventions
- seminars
- entertainment
- rental car
- Business gifts
Internet Expenses
- Website hosting
- domain names
- web design
- blogging expenses
- podcasting -ipod, sotware
- accounting software
- tax software
- internet service
- classes
- webinars
- marketing
Educational Expenses
- literature- books, journals
- newsletters
- ezines
- internet training
- educational cd's and dvd's
Trade Show Expenses
- booth fee
- travel
- meals
- tables
Tax and Accounting Software
TurboTax Home & Business Federal + State 2007
Release Date: 11/16/2007
Avg. Customer Rating: 
Amazon Price: $64.00 (as of 07/25/2008)
List Price: $89.95
Used Price: $29.99
Usually ships in 1-2 business days
TurboTax Premier Federal + State 2007
Release Date: 11/16/2007
Avg. Customer Rating: 
Amazon Price: $44.49 (as of 07/25/2008)
List Price: $74.95
Used Price: $13.49
Usually ships in 1-2 business days
QuickBooks Simple Start Plus Pack 2008
Release Date: 10/11/2007
Avg. Customer Rating: 
Amazon Price: $63.99 (as of 07/25/2008)
List Price: $99.95
Used Price: $93.57
Usually ships in 1-2 business days
QuickBooks Pro 2008
Release Date: 10/11/2007
Avg. Customer Rating:
Amazon Price: $165.99 (as of 07/25/2008)
List Price: $199.95
Used Price: $202.88
Usually ships in 24 hours
Learning Quickbooks 2008
Release Date: 10/14/2007
Avg. Customer Rating:
Amazon Price: $36.49 (as of 07/25/2008)
List Price: $39.95
Used Price: $36.40
Usually ships in 24 hours
Tax Links
- Office-in-Home Tax Deductions - Home Business Use of Your Home
- If you qualify, taking deductions for business use of your home can save you money at tax time.
- Make Tax Filing Easier With These Record Keeping Tips
- Make Tax Filing Easier with These Record Keeping Tips. What records should you keep for tax purposes and how long should you keep them?
- Utilizing Network Marketing Tax Deductions - Associated Content
- How can you utilize network marketing tax deductions in your business?
- mlmlegal
- If your network marketing business is making money, there is no reason why you should not be able to write off legitimate business deductions. Fair and honest deductions will save you a lot of money, but remember pie-in-the-sky or fantasy deductions may trigger audits and cost you money.
- Mlm Tax Deductions Article
- Network marketers are often concerned about MLM tax deductions, because they are not really sure of what items or expenses can legally be deducted and what constitutes a real business.
Network Marketing and Beyond Blog
Fetching RSS feed... please stand byTax Deduction Feedback
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scss
What an impressive lens you have created here - essential reading for newbie network marketers, who rarely take the full tax benefits from their business. Posted June 05, 2008 |
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ms-giggles
Hi Kelly & Curt, You look in Love!!! Posted May 24, 2008 |
