What Qualifies as Business Mileage for Tax Purposes?
Many small business professionals, such as Real Estate Agents, will typically spend a good part of the day in their vehicle conducting business in the local market… this article will…
Understanding Tax Deductible Operating Expenses
As a small business professional, there are many types and kinds of operating expenses. Rather than just list them all, it is best to understand the criteria of an operating…
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Why Avoid Buying Items Over $2,500
It’s all about something called “De Minimis Safe Harbor”… What is “De Minimis Safe Harbor” & Why Should You Care? De minimis safe harbor, allows you to deduct the entire…
Why Promotional “Giveaways” Should be $4 or Less
Giveaway Items – why business professionals should keep them at $4 or less per item. Giveaway items that you use to publicize your business (such as pens, coffee cups, T-shirts, refrigerator magnets,…
Home Office Deductions for Small Business Professionals
As a real estate agent, you may be eligible to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. To…
Mileage Tracking for Small Business Professionals
The IRS has rules that to relate to what types of business driving is eligible for a mileage deduction.(click here for IRS details) A few TIPS for tracking mileage: Daily commutes…