tax tips

Question:

“I am doing a long term contract out of state 6 month. Car rental was to much, so I purchased a vehicle. Can I use the section 179 deduction how much of the vehicle purchase price can I deduct, and how much of my millage can I write off and are they different things. I pretty much drive the car to and from my apartment and work, to go eat or to the movies, or anything I would use my car at home for.”

Answer:

Certified Tax Coach, Eric Levenhagen, CPA CTC

Deducting the cost of your car and deducting mileage are two different options you have when taking vehicle deductions. Since this is the first year you owned Read more →

The soothsayer famously warned William Shakespeare’s Julius Caesar to “Beware the Ides (fifteenth day) of March.”

Most United States taxpayers, though, fear the Ides of April, the day on which annual tax returns are due. For businesses, there are several other important tax dates as well.

 

Weekends

If a tax date falls on a weekend in a given year, it is moved to the next business day.

Recurring Monthly Dates

Employees should report to employers tip income over $20 for a month by the eleventh of the following month. Payroll taxes are deposited according to either monthly or semi-weekly rules. Monthly deposits are due on the 15th day of each month and semi-weekly ones every Wednesday and Friday. On … Read more →

If you’re like most small business owners, you waste thousands of dollars every year in taxes you don’t need to pay. Attend this entertaining, fast-paced webinar to learn the last minute secrets to rescue thousands in savings and take advantage of every available break!

In our current economy, small businesses are paying too much in taxes, costing them precious capital needed to grow their company

SCORE and National Tax Planning Expert, Dominique Molina, will share with you the best last minute secrets to save you from overpaying your taxes and add cash straight to your bottom line by practicing the very best in financial defense. Discover:

How to avoid The single most expensive tax mistake of all Secrets Donald Trump… Read more →

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