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The amount that you pay youraccountantor your attorney is a tax-deductible expense. Of course, the payment should be for business-related work. This means that any sum paid for filing personal taxes is not allowed, and neither are any amounts paid for legal matters that don’t pertain to ...
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An LLC may have higher self-employment taxes because an S corporation owner is required to pay self-employment tax only on salary but not on dividends from the corporation. In addition,corporations file “Certificate of Incorporation,” while LLCs file “Articles of Organization.” ...
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When you start your own business, knowing the income tax implications of your decisions can save you money and headaches. Learn about paying estimated income taxes, keeping track of expenses and how to take a tax deduction when you use your car for busin
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Fees charged by lawyers, accountants, and online bookkeeping services directly related to your business are deductible as expenses. 20. Moving expenses If you relocate your business, you can write off the total cost of the move from your taxes. ...