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TAX TIP OF THE DAY... deduct your umbrella
Do you travel for work? Drive to other buildings? Visit customers? Drive for office errands? Deduct items that protect you from the elements... umbrellas, sunglasses, gloves. SHARE WITH A FRIEND. David S. Baboian, CPA answers client tax questions throughout the year, FREE of charge. For more info... www.baboiancpa.com TAX TIP OF THE DAY... deduct new Harrisburg $156 LST
If you work in Harrisburg City, your employer will be taking more out of your paycheck. Your $52 LST tax was just retroactively increased to $156. The payment is tax deductible. SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... should I file my own taxes?
"Yes" for many people-- especially if you are under age 35. Life has not become too complicated yet! But later in life things change... investments, children in college, pensions, IRAs, rental properties, small business experiments. Your instincts will tell you when you need professional help. SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... create your own deductible uniform
Embroider company name or logo on clothing to deduct as a business expense. The embroidery should be visible and reasonably sized. SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... deduct laundry expenses
Record laundry and dry cleaning expenses for uniforms, protective clothing and other work related linens. Record number of loads of laundry per week for in-home laundering. SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... deduct credit card interest
For business and rental property owners... Interest on business debt is fully deductible, unlike personal credit card interest. Therefore, when you are short on cash, charge to purchase business items and pay cash for personal items. Use a separate credit card for business so you don’t mix business and personal charges on the same card. SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... incorporate your business
Incorporating your business as an LLC or corporation is one of the most powerful tax savers available for a business. Creative corporate strategy can save you thousands of dollars. Unfortunately, the high administrative costs and the significant paperwork involved may limits the application of this strategy. But it is definitely worth asking about! SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com TAX TIP OF THE DAY... financed equipment & furniture
Purchase tax deductible equipment, computers, etc. on or before 12/31 by utilizing a bank loan, lease, or credit card. In most cases you can deduct the entire cost even without making any payments! SHARE WITH A FRIEND. If you need tax help... www.baboiancpa.com |
AuthorDavid S. Baboian, CPA Archives
February 2018
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