DAVID S. BABOIAN, CPA, PC

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4/23/2016

April 23rd, 2016

Read Now
 
TAX TIP OF THE DAY...  small business #1 missed deduction

Small businesses convert personal items to business use all of the time...  and generally miss the deduction.  These are items that you origianlly purchased years ago for home use or before you even had a business:
1) tools out of your garage taken to work
2) home office desk, chair, carpet
3) you replaced your home computer and took the old one to the office
4) GPS for the car
5) old coffee maker taken to work
6) old telephones taken to work
7) waiting room chairs that came from your basement

WHAT YOU NEED TO DO:
Step 1: look around your work area and make a list of everything that came from home.
Step 2: assign a fair market value (ebay value) to each item on the day that you moved it from home to work.
Step 3: give list to your accountant for special conversion rule treatment. 

SHARE WITH A FRIEND. 
If you need tax help... www.baboiancpa.com

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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYER set up forms
      • EMPLOYEE set up forms for new hires
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's bands
    • Haunted Chamber
    • Picture gallery
  • Secure email