Need some tax help.....

[autofisher]

I know how to do my taxes and what not. But I have some questions reguarding my business. If anyone is tax savvy and can give me a few pointers, I would greatly appreciate it.

 

[lizardman]

First remember ALL of your deductions (personal and business).

Remember your charitable deductions (you did give $100.00 of product to the cub scouts right?).

Your medical deductions??? (co-pays, prescriptions, mileage, lodging, meals... the last three may not apply to you)

Your phone bill (or a portion there of), and any office expenses.


There are many more exemptions and deductions to be taken.


Dave

 

[Mike123]

Make sure you do your taxes on more than one tax program. Different programs will give you more or less of a refund.. I don't know why, but it's true. You can then add all of your deductions and watch your refund increase, until you add too many, then it will start to decrease. So, this is helpful to know and keep track of. Some people just write down ALL of their deductions and don't actually watch what it does to their refund.

 

[autofisher]

Thanks guys, I think I got it figured out. Hopin that I did at least. Maybe one day if I make it big, I'll have an accountant.

 

[halibuthitman]

"no one ever wasted money on a lawyer or an accountant" ....