By month: October 2008

Beware of AMT Mortgage Interest Rules

Beware! Learn how the Alternative Minimum Tax (AMT) taxes the mortgage interest deduction that lawmakers granted you under the regular income tax. Ouch!

Deductible Business Expenses: Wins Computer, Loses Mileage Write-Off

In court, David Choe succeeded proving that his laptop was business use, but a bad mileage log took away all his automobile deductions. Ouch! Learn how to avoid this egregious error.

Gym Fees as Travel Expenses

Contrary to popular opinion (and an IRS official), you can deduct gym fees when traveling for business. See the evidence and read how to deduct gym fees as travel expenses.

Single Lawyer’s 105 Plan

Which is better: paying medical insurance out of your pocket, or forming a C corporation to deduct the insurance costs? The extra tax on the corporation might outweigh the insurance deduction. Or, it might not.

Medicare as a Self-Employed Insurance Cost

Under tax law, Medicare B can be deducted as health insurance. We have proof. Also, we show you how to get the Medicare premium to qualify as an employer plan, and how to relate it to the earned income of your business.


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