What mileage rate does the IRS Allow?
Self Employed Tax Deductions…which Ones Are You Missing?
The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. This is an increase of eight (8) cents from the 50.5 cent rate in effect for the first six months of 2008, as set forth in Rev. Proc. 2007-70.
| Self Employed Tax Deductions….Discover the Unclaimed Tax Deductions that lie secretly Hidden in your Home Business Tax Returns
Tax Write Offs for the Self Employed…Discover 101 Ways To Reduce your Taxes Legally… Unfortunately, we had been students of self-employed tax deductions strategies for over 20 years before we learned what I’m about to share with you regarding tax reduction tips. |
I was shocked when we first found out that as self employed home business owners there were more tax loopholes than the limited itemized tax deductions that we had routinely rehearsed and become accustomed to.
My husband and I thought we were savvy entrepreneurs especially when it came down to self employed tax deductions solutions. (He said I knew how to squeeze a dollar to make George holler)
Boy when we found out that we were severely losing out on Thousands of dollars per year from not maximizing self employed tax deductions expenses…well it was just a bitter sweet experience.
We weren’t happy campers to say the least.
Now don’t get me wrong we weren’t blaming anyone.
It was sort of like the lady on the news that was scammed for millions. Her concern was not that she had been scammed. Her concerned was that she was paying income taxes on money that didn’t exist.
She was gravely looking for IRS to bestow a tax reduction… better yet, interest tax deductions for all of the years of over paying.
We implemented every self employed tax deductions suggested by our accountant.
We were appalled to discover how considerably more tax deductions we could claim as self employed home business owner.
It was no secret we’ve visited our share of CPA ,CFP and every other kind of C’s and never seem to stumble on the one that really resonated with us or could noticeably reduce our business taxes.
Now you get the opportunity to benefit from the same self employed tax deductions tips that it took us over 20 years to learn… you get to devour in the time it takes to read this article.
Fortunately, you get to learn from your experiences and from ours.
Here are 9 Bullet-Proof Self Employed Tax Deductions:
If you own your own business (even a home business) or if you’re an Independent Contractor, you could save hundreds… even thousands of dollars each year.
Here is an outline of what you will learn:
1. Learn how to potentially deduct most of your fun such as movies, plays, and season tickets
2. Learn how to potentially deduct your golf, golf balls, golf clubs and lessons
3. Learn how to potentially deduct all parties in your home
4. Learn how to potentially bullet-proof all your entertainment from any IRS or state audit!
5. Learn how to potentially deduct any vacation anywhere in the world by combining the trip with business.
6. Discover the secret as to why IRS doesn’t require receipts for under $75 per item!
7. Find out how to potentially deduct all dry cleaning and laundry and even the cost of clothing itself!
8. Learn how to potentially bullet proof all travel from even the toughest IRS scrutiny
9. Discover a little known secret (that is used by the super rich) to potentially deduct the equivalent of your children’s weddings and education including law school and medical school- No kidding!!
To learn even more specific self employed tax deductions strategies go to taxreductioninstitute Here’s a bonus coupon code you can use.. ‘Boostbiz’ for a 10% saving
Who is Sandy C.Botkin –Sanford C. Botkin, CPA and Former top IRS Tax Attorney lives in Germantown, MD, a suburb of Washington D. C., just a short distance from the IRS headquarters.
Article Directory: http://www.articledashboard.com –
Deborah’s been an entrepreneur for over 25 years. Her Strongest strength is creative thinking. Deborah’s website www.boost-home-business.com> boost-home- business offers outrageously simple, low-cost ,easy, money making ideas that’s sure to produce measureable results immediately. For short painlessly simple marketing tips blog at www.boost-home-business.com/Home-Business-blog.html> home-business-blog
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Beyond even hardship cases, the IRS is offering help, including a service called Free File: If your adjusted gross income is below $56000, you may go to www.irs.gov and receive free help.
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