Tax write-offs.....need some suggestions - CSRNation2024-03-29T14:49:51Zhttp://csrnation.ning.com/forum/topics/tax-write-offs-need-some-suggestions?commentId=1736041%3AComment%3A1307588&feed=yes&xn_auth=noIt has to meet a certain amou…tag:csrnation.ning.com,2016-05-25:1736041:Comment:13392032016-05-25T15:34:02.368ZRosalie DeLeonardishttp://csrnation.ning.com/profile/RosalieHenshall
<p>It has to meet a certain amount of money, but don't forget prescriptions, doctor visits. Also, cell phone, house phone, internet, DMV fees, property tax (I have to double check - I can't find my taxes at the moment), donations, water/garbage (but that's part of the home office). How frustrating that you've been audited because of home office. I've been claiming a home office since I started reporting and have never been audited (knock on wood).</p>
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<p>It has to meet a certain amount of money, but don't forget prescriptions, doctor visits. Also, cell phone, house phone, internet, DMV fees, property tax (I have to double check - I can't find my taxes at the moment), donations, water/garbage (but that's part of the home office). How frustrating that you've been audited because of home office. I've been claiming a home office since I started reporting and have never been audited (knock on wood).</p>
<p></p> "- 75% of any repairs, mainte…tag:csrnation.ning.com,2016-05-22:1736041:Comment:13391772016-05-22T22:08:51.749ZJuleshttp://csrnation.ning.com/profile/Jules
<p>"- 75% of any repairs, maintenance and car washes for my vehicle. I also write off 75% of my total miles for the year."</p>
<p>Unless there's some big change I'm unaware of, this is not a legit deduction. You can write off actual expenses OR mileage, not both. It's an either/or situation. If you're deducting both, I sure hope you don't get audited.</p>
<p>"- 75% of any repairs, maintenance and car washes for my vehicle. I also write off 75% of my total miles for the year."</p>
<p>Unless there's some big change I'm unaware of, this is not a legit deduction. You can write off actual expenses OR mileage, not both. It's an either/or situation. If you're deducting both, I sure hope you don't get audited.</p> Kelli
These are a few of the…tag:csrnation.ning.com,2016-05-18:1736041:Comment:13389812016-05-18T00:26:58.178ZBrian Durborowhttp://csrnation.ning.com/profile/BrianDurborow
<p>Kelli</p>
<p>These are a few of the things I write off:</p>
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<p>- 75% of my total cell phone bill for the year</p>
<p>- 75% of any repairs, maintenance and car washes for my vehicle. I also write off 75% of my total miles for the year.</p>
<p>- tolls (if you have EZPass..it makes it very easy to track)</p>
<p>- I play in charity golf outings and write all of those off so think about any "donation type" expenses you make in your business.</p>
<p>- If you have a home office, you can…</p>
<p>Kelli</p>
<p>These are a few of the things I write off:</p>
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<p>- 75% of my total cell phone bill for the year</p>
<p>- 75% of any repairs, maintenance and car washes for my vehicle. I also write off 75% of my total miles for the year.</p>
<p>- tolls (if you have EZPass..it makes it very easy to track)</p>
<p>- I play in charity golf outings and write all of those off so think about any "donation type" expenses you make in your business.</p>
<p>- If you have a home office, you can write expenses off as well. For example, my home office makes up about 25% of my whole house, so I write off 25% of lawncare, utilities, internet, any home maintanence.</p>
<p>- How about ANY type of solicitation/advertising. If you are listed in the Lawyers Diary or some other publication...thats a write off.</p>
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<p>My father is a CPA so I know A LOT of writeoffs that are 100% legitimate! Let me know if you have any questions.</p>
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<p></p> office space in your home
of…tag:csrnation.ning.com,2016-05-14:1736041:Comment:13385682016-05-14T00:26:47.793Zkathy - iamwrdsmthhttp://csrnation.ning.com/profile/kathy33
<p></p>
<p>office space in your home</p>
<p>office supplies, pens, sticky notes, etc.</p>
<p>mileage</p>
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<p>office space in your home</p>
<p>office supplies, pens, sticky notes, etc.</p>
<p>mileage</p> Become a subchapter S corpora…tag:csrnation.ning.com,2014-11-20:1736041:Comment:13096272014-11-20T04:48:00.312ZScott Sinclairhttp://csrnation.ning.com/profile/ScottSinclair
<p>Become a subchapter S corporation. I've done it since 2001. It's a huge tax savings on FICA (social security). </p>
<p>Become a subchapter S corporation. I've done it since 2001. It's a huge tax savings on FICA (social security). </p> Wow, that's huge. LOL. I'll…tag:csrnation.ning.com,2014-10-04:1736041:Comment:13079342014-10-04T15:31:01.222ZKelli Combs (admin)http://csrnation.ning.com/profile/Kellicombsadmin
<p>Wow, that's huge. LOL. I'll see if I can add that to the list since we have a 60" flatscreen that we bought last year. Makes sense to me. Thanks.</p>
<p>Wow, that's huge. LOL. I'll see if I can add that to the list since we have a 60" flatscreen that we bought last year. Makes sense to me. Thanks.</p> 55" Samsung TV.....My video e…tag:csrnation.ning.com,2014-10-04:1736041:Comment:13081412014-10-04T03:20:57.652ZDebbie Landihttp://csrnation.ning.com/profile/Debbie98
<p>55" Samsung TV.....My video editing station:-)</p>
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<p>55" Samsung TV.....My video editing station:-)</p>
<p></p> Equipment (depreciated) , sup…tag:csrnation.ning.com,2014-10-04:1736041:Comment:13078382014-10-04T00:00:43.504ZPhyllis J. Stinsonhttp://csrnation.ning.com/profile/PhyllisJStinson
<p>Equipment (depreciated) , supplies, in-home office, telephone, educational and reference material for your office, such as state legal directories, etc., advertising of all kinds that is business related, auto expenses (cash expenses only if you take Section 179 allowance) mileage, if you don't; percentage of utilities, rent/mortgage percentage; air purification system for office use; furniture and fixtures; percentage of internet usage, and I can't think of anything else off the top of my…</p>
<p>Equipment (depreciated) , supplies, in-home office, telephone, educational and reference material for your office, such as state legal directories, etc., advertising of all kinds that is business related, auto expenses (cash expenses only if you take Section 179 allowance) mileage, if you don't; percentage of utilities, rent/mortgage percentage; air purification system for office use; furniture and fixtures; percentage of internet usage, and I can't think of anything else off the top of my head.</p>
<p></p> Office furniture. Postage. …tag:csrnation.ning.com,2014-10-02:1736041:Comment:13079162014-10-02T17:43:19.827ZAna Dubhttp://csrnation.ning.com/profile/AnaDub
<p>Office furniture. Postage. Meals with business associates. Trips to conventions. Association fees.</p>
<p>Office furniture. Postage. Meals with business associates. Trips to conventions. Association fees.</p> HOLY CRAP!!! I wouldn't hav…tag:csrnation.ning.com,2014-10-02:1736041:Comment:13076292014-10-02T14:13:03.094ZCarol A.http://csrnation.ning.com/profile/CarolAndersen
<p>HOLY CRAP!!! I wouldn't have filed it either, LOL!</p>
<p>HOLY CRAP!!! I wouldn't have filed it either, LOL!</p>