If you attempt to deduct 100% of your cell phone bill as a small business tax deduction, the IRS will claim 0% and then force you to demonstrate why it should be something else. Conversely, if you approach this from a position of being reasonable, it is extremely challenging for the IRS...
Beginning in 2010, employer-provided cell phones are no longer considered to be “listed” property. That means small businesses can deduct cell phone use without the burdensome extra documentation requirements that applied in previous years. Deductions for Business Start-Up Expe...
Under new simplifiedIRS guidelinesfor home office expenses, home-based small businesses and freelancers can deduct five dollars per square foot of your home that’s used for business purposes, up to a maximum of 300 square feet. To qualify as a tax deduction, your work area has to be used ...
The first telephone landline in your house cannot be deducted. But the cost of a second line and any business-related long distance charges can be expensed. Deduct this expense on line 25 ofSchedule C. Internet and cell phone charges can also be expensed, but you can only deduct the per...
If you’re a small business owner with one or more employees, you can deduct the cost of the employee's salaries, benefits, and vacation pay. This includes regular wages, commissions, and bonuses. Generally, the IRS does not challenge itemized salary and benefits deductions. However, there ar...
I think the IRS may question your two weeks at the Four Seasons on a glorious beach somewhere exotic. Someone reading this likely had a business reason to be there for two weeks and is entitled to the tax break for costs incurred. For your trip to qualify as business travel, it must ...
small business tax return- this is a common misconception. However, this is an IRS thing and you might still have a separate state filing requirement. For example, California has a franchise tax that is reported on Form 568 even if you are considered disregarded by the IRS. Texas and other...
Is your Church, non-profit organization (U.S. IRS 501(c)(3)) or professional services business (lawyers, accountants, financial services and so forth) located in the Salisbury, MD, area and you want to install or upgrade a computer or network? Do you wish there was someone to take care...
Before you can run payroll, you need to obtain an Employer Identification Number (EIN) from the IRS. Your EIN is a unique number used to identify your business for tax purposes. You canapply for an EIN onlinethrough the IRS website. ...
The Flex for Business feature allows for qualifying purchases to be paid over time with interest. Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection. There's no additional ...