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Basic Tax Insight for the Self-Employed

March 31, 2015 | By | No Comments

comp or reviewAs a business owner, you get to call the shots, make key business decisions, and be your own boss. The flip side is that you’re also in charge of everything else – including IT, marketing, sales, and accounting. Considering the diverse array of responsibilities the average business owner faces, expertise in each of these areas can be difficult to achieve.

In an effort to provide accounting insight specifically for the self-employed, *USA Today has tailored 9 basic tax tips relative to this target audience.

  1. Home office deductions
  2. How saving pays off
  3. Deduct it if it’s business related
  4. Keep your Cash Receipts
  5. Did you pay your kids as employees?
  6. Health insurance deduction
  7. Diligently track income
  8. Bad business debt is deductible
  9. Write off tax preparation fees

Read the full article here: 9 Tax Tips for the Self-Employed

*Reeves, J. (2015, February 28). 9 Tax Tips for the Self-Employed. Retrieved March 31st, 2015 from: http://www.usatoday.com/story/money/personalfinance/2015/02/28/tax-self-employed-irs/22405699/