Linda
Section 179 ? Tax Relief From Depreciation Rules
"Depreciation." For business owners, this word is the one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are just the medicine you need to cure the depreciation blues.
Depreciation
Traditionally, if your business property had a life of more than one year, the cost had to be deducted over several [...]
Tax Trap #1 — Waiting to Incorporate: What A Difference A Date Can Make
NOTE: This is the first in a series of 5 articles:”Small Business Tax Traps and How To Avoid Them”
If you’re a sole proprietor, perhaps you’ve consideredincorporating your small business or self-employmentactivity.
And so maybe you’ve been wondering,”When is the best time to incorporate?”
From a legal standpoint, any time is the best time.The sooner you incorporate, the [...]
Requirements To Produce Tax Information (Whats Up With That?)
“What we’ve got here is a failure to communicate.” –Strother Martin in Cool Hand Luke
Statutory Law
Governments pass laws, it’s what they do. It is the job of others to interpret [...]
Send Your Kids To Summer Camp and Write It Off
If you paid someone to care for a child so you could work, you may be able claim a tax credit for child and dependent care expenses on your federal income tax return. This credit is available to people who, in order to work or to look for work, have to pay for child care [...]
Back To School ? Educators Deduct School Expenses
As teachers and students head back to school following a glorious summer, it’s time to remind teachers to organize 2004 school expenses. Under a temporary tax code change, teachers can deduct certain school-related expenses from adjusted gross income.
Educator Expense Deduction
If you work in the education field, you may be able to deduct up to $250 [...]
Another Tax Loophole
Just image, you are a small manufacturing company, business has been good, but yesterday you received a call from a customer who wants 50,000 widgets in 45 days. The customer is a large account and if you turn the business down, he may never call you again.
Problem: You need to hire more staff [...]
Tax Time Tune Up
Excerpted from the new book, "How to Do Space Age Work with a Stone Age Brain" TM
The complete article with pictures and sample Auto Log is available at www.organize.com
Every year American companies lose millions of dollars in productivity to employees who end up taking their own personal time off to do their taxes. Whether you [...]
Military Reservists, Enlistees May Get Deferral of Back Taxes
Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service.
The deferral covers active duty members of the military services – Army, Navy, Air Force, Marine Corps and Coast Guard – [...]
Tax Trap #4 — The Quagmire of Depreciation
If you are a Small Business Owner or Self-Employed Person,there’s one especially lucrative tax break that not onlyputs money in your pocket, it also makes the filing ofyour business tax return much simpler.
What am I talking about? It’s called the Section 179deduction, and if there’s one tax break you need to understand, this is [...]
Alas! In E-Commerce Taxland
In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole,going through the looking glass, and attending a Mad Tea-Party.
Common sense, logic, and fairness never did apply fully to the field of taxation but this is especially true of e-commerce transactions.
1. Canada Customs Welcomes You to Canada!
Since [...]
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