CSBC Presents........
Tax Tips For Home-Based Businesses
Did you know what Microsoft, Martha Stewart, Hewlett Packard and
Coca-Cola have in common? They all started at home! That's right. These
multi-million dollar companies were home-based businesses!
Did you know that
with your home-based business your are eligible for the same deductions as major
corporations? Well, you are! When you start your home-based business, you
become eligible to take many tax deductions that will allow you to decrease the
amount of tax you pay.
 As a home-based entrepreneur, you have many more deductions
that are unavailable to the everyday taxpayer. Let’s unlock the key to saving
money and paying less tax. With a Schedule C, you may be able to deduct the
following credits:
|
·
Advertising |
·
Legal and
Professional Services |
|
·
Bad Debts |
·
Office
Expense |
|
·
Commission
and fees |
·
Pension and
Profit Sharing Plans |
|
·
Car and
truck expenses |
·
Rent or
Lease (Vehicles, Equipment, Machinery) |
|
·
Cost of
goods sold |
·
Repairs and
Maintenance |
|
·
Depletion |
·
Supplies |
|
·
Depreciation
and Section 179 Expense Deduction |
·
Taxes and
Licenses |
|
·
Employee
Benefit Programs (Except Pension & Profit Sharing) |
·
Travel,
Meals and Entertainment |
|
·
Expenses For
Business Use of Home |
·
Utilities |
|
·
Insurance
(Other Than Health) |
·
Wages |
|
·
Interest
(Mortgage Paid to Banks, etc.) |
·
Other
Expenses |
|
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Read eNew Park Forest
End of the Summer Tax Tips: Day Camp, Stimulus Checks
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