#1 tax question asked
"Is my monthly autoship tax deductible?"
No. Your monthly autoship is not tax deductible.
The thought is the products are consumed by you or can be sold.
For more information read Sandy Botkin's book " Lower Your Taxes Big Time"
Showing posts with label home business tax tips. Show all posts
Showing posts with label home business tax tips. Show all posts
Saturday, March 7, 2009
Wednesday, January 21, 2009
Tax tip #3 travel days including weekends
Day of travel to a business conference and the return are considered business days so travel expenses are deductible.
Also if you have business meetings on Friday and Monday you can count the weekends as business days....all on the road expenses for the weekends are deductible if sandwiched in between business meetings.
As stated in previous posts I am not a tax attorney. These are short tips(summaries) I'm sharing with you from the tax book by Botkin.
Always consult a CPA or tax consultant for advise.
Also if you have business meetings on Friday and Monday you can count the weekends as business days....all on the road expenses for the weekends are deductible if sandwiched in between business meetings.
As stated in previous posts I am not a tax attorney. These are short tips(summaries) I'm sharing with you from the tax book by Botkin.
Always consult a CPA or tax consultant for advise.
Monday, January 19, 2009
Tax tip#2 Business Travel
You may deduct 100% of your on the road expenses but only 50% of your meal costs.
You don't need receipts for expenses under $75 (each expense) However you need to have documentation of these expenses in a diary or tax organizer.
Note: I am not a tax expert. I am reading the book "Lower Your Taxes Big Time" by Sandy Botkin.
You don't need receipts for expenses under $75 (each expense) However you need to have documentation of these expenses in a diary or tax organizer.
Note: I am not a tax expert. I am reading the book "Lower Your Taxes Big Time" by Sandy Botkin.
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