by Bill Houston | Jan 16, 2019 | Business Deductions
Starting up a business is exciting, but can be a confusing task. There can be a number of traps that can result in extreme frustration down the road and could cost you money. We help dozens of people setup a business or change their entity each year at very...
by Bill Houston | Sep 24, 2017 | Business Deductions
Taking a deduction for home office expenses is trickier for an S Corp business but it it still a legitimate deduction if done properly. It is important that you carefully structure the relationship between yourself and the S corporation. Done properly, the deduction...
by Bill Houston | Jan 8, 2017 | Business Deductions
It’s not too late to record your year end mileage to get that tax deduction for 2016 and start your mileage record for 2017. Either estimate the Dec 31 mileage or use today’s mileage as your 2016 and and 2017 beginning. What is important is you write it...
by Bill Houston | Dec 21, 2016 | Business Deductions
2 of the most valuable deductions for home businesses are the mileage deduction and the home office expense deduction. Both of these can be lost by not understanding one simple rule, and that is your home office must be used exclusively for your business. That means...
by Bill Houston | Dec 1, 2016 | Business Deductions
We do tax returns for a lot of child care businesses and many are not aware of this strategy to increase their tax refund. The IRS rules regarding depreciation of personal property are very lenient, with the proper documentation. Many of our clients don’t...
by Bill Houston | Nov 30, 2016 | Business Deductions
For all you small business owners, it is time to start gathering the paperwork so that you don’t miss any tax deductions for 2016. Here are some of the most common deductions available: Home office – a great way to move some personal expenses under the...
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