Sunday, August 31, 2014
Monday, August 25, 2014
Wrapping Up End Of The Year Tax Deductions
It's already the end of August and before you know it it will be time to file personal and small business income taxes again. It's time for you as a tax payer to start working on your end of the year deductions such as charitable deductions (church tithes and offerings, and monetary donations to other organizations), also non monetary donations such as clothes, household items, used electronics, auto's, and anything else that you gave or are going to give to Goodwill. Also, if you have a small business or if you are going to claim Un - reimbursed employee expenses (if you are an employee), make sure everything is documented by the end of the year (December 31).
If you are looking to buy or start a business, NOW is the perfect time. Any and all expenses for any business start up will be deductible on your 2013 Income Tax. To assist you with this, call and talk to me about filing a DBA, S Corporation, Non Profit Corporation, LLC, or LLP.
And for those of you that already have a business, any marketing is tax deductible such as business cards, travel, cell phones, computers, business miles, etc.
Contact us with any questions regarding any tax or business issues at (213) 820-1513.