By month: February 2010

Business Education Tax Guide

Learn how the government pays you to get educated. The basic rule: you may deduct education that maintains or improves the skills you need in your business, providing the education does not qualify you for a new business.

What is a 1099 Independent Contractor?

If you are thinking of hiring your workers as 1099 independent contractors, this article is for you. The article shows you how the rules work and helps you understand what you need to properly classify your workers as independent contractors.

IRS Home-Office Deduction Separate Entrance

Local zoning laws might require a separate entrance for an office in the home, but this rule would not apply to the type of home office we recommend.

Rental Property Business Tax Attributes

If you own rental properties, you don’t want the tax law to call the rentals an investment. Instead, you want the rental properties to qualify as a trade or business so that you achieve tax favored Section 1231 treatment and other tax breaks.

Business Gift Basket Tax Deduction

The business gift basket runs into the $25 limit on business gifts. If you want to deduct more than $25, you need to know the rules in this article that produce bigger deductions.

No Tax Relief for Donation of Office Space to Church

Allowing your church to use office space free does not produce a tax deduction for you. Make sure you know the rules on these types of donations, including the rules that apply when you donate a week at your timeshare or vacation home.

 

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