Not a topic we like to hear, unless you are an accounting professional. But tax season is well under way! Have you given thought as to what you might be able to deduct?
I was recommended a very good book called, 422 Tax Deductions For Small Businesses & Self-Employed Individuals by Bernard B. Kamoroff, C.P.A. The 7th Edition is out. As a rule of thumb, it pays to get a new book every year to make sure the deductions are up to date. Some book publishers offer a discount if you, for example mail in the cover of a previous edition. But this varies. The book is a good reference of topics in alphabetical order that can be looked up quickly, like a dictionary. However, as you will see in the Amazon listing, there are mixed reviews, so to each his own.
As always, for the home office warrior, if you are thinking about taking the home business deduction, or deductions recommended from a book such as the above for example, you should consult a tax professional.
Are you overwhelmed with expenses for deductions and no one to help? Consider Remote Admin Services to help sort out deluge. We will organize those receipts in a manner that your accountant will love you for!
