There are many names and opportunities, but it all comes down to the same thing – you have a small business.
Businesses have their own sets of rewards and challenges, including special requirements for your tax return. It’s not just you and your W-2 anymore. Meet your new friend – Schedule C.
Hopefully you have lots of new income with your small business, but that doesn’t have to automatically mean lots of new income taxes. Since you are a business, you have access to many more deduction opportunities than when you were just someone’s employee.
Do you have business cards? Deductible.
Did you buy shipping supplies or postage? Deductible.
Do you pay for webhosting? Deductible.
Do you have an office in your home you use just for your business? Even just a corner where you store your inventory? These may be deductible, too.
But, let’s face it. You did not start your own business so you could spend your time figuring out new taxes, exemptions, schedules, etc. That’s where I come in. My business is solving your tax puzzle so you can go back to your business. I can help you find business expenses so you don’t pay more than you need to. Contact me or download my free small business worksheet.
Oh, and one more little thing…
Do you have a tax preparer? Deductible! Yup, I’m deductible. Let me show you how.