albisweet098
Joined: 21 Aug 2013
Posts: 5
|
 Posted: Wed Aug 21, 2013 5:45 am Post subject: retain receipts and paid invoices |
 |
|
Try prominently displaying your home phone number and address on business cards, have business guests sign a guest log book when they visit your office, deduct long-distance phone charges, keep a time and work activity log, retain receipts and paid invoices. Keeping these receipts makes it so much easier to determine percentages of deductions later on in the year. The tax laws allows you to immediately expense, rather than depreciate over time, up to $108,000 worth of business assets that you purchase during a year. The key is ?purchase? ...it can be new or used. All home office depreciable equipment meets the qualification. Also, if you purchase more than $108,000 in equipment, you can expense the first $108,000 then depreciate the rest. Make sure that before you start deducting all of these items on your return, that you have qualified for the Home Office Deduction. You should consider meeting with a tax professional for further Home Office Deduction advice.
_________________
tax lien albany |
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
