Tax Resources

You work hard for your money. Whether it’s running your own business or working for someone else, you know that you’ve come by every penny honestly. And while you’re more than willing to pay your fair share in taxes, you don’t want to pay more than what’s absolutely necessary.

Fortunately, there are a number of ways to create tax-free income. Even if you don’t itemize deductions, you can still see significant tax savings in certain areas.

Here are some tax-free income possibilities you might consider, especially if you’re right on the cusp of a higher tax bracket:

Obtain a cash rewards credit card. When you get cash back from a credit card, you might say that this is tax-free income.… Read more →

When you have a home-based business, time is truly precious. Sure, you have the flexibility to do things that people who work a nine to five job can’t do, and have the several home office deductions available, but you also often wind up working much longer hours, too. By the time you’re done working, there’s so little precious time to spend with family, the last thing you want to do is clean the house.

For many small business owners, a housekeeper is just the solution they need. Not only that, if you have a home office where you have customers or clients visit you, you want to make sure everything is tidy and presentable. Keeping your office in top shape … Read more →

There are a number of significant tax advantages to having a business, not the least of which is your car expense tax deduction. Yet, if you want to lower your tax bill and get the highest possible savings, you need to know exactly how to handle this. If you do it right, you’ll drive your tax bill lower. If you do it wrong, you’ll turn the wrong way and could end up in a head-on collision with an IRS audit.

Here are some car-related expenses and approaches that could save you money by claiming a car expense tax deduction at tax time:

1.General business use. IF you have a vehicle that you use solely for the operation … Read more →

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