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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (410720)	2/14/2011 10:25:32 PM
From: LindyBill	1 Recommendation Respond to of 793561

Enough of this! Keep it polite, or keep it elsewhere.

To: longnshort who wrote (410720)	2/15/2011 12:51:05 AM
From: Neeka	Read Replies (1) \| Respond to of 793561

This is a list of small business income tax deductions. As a small business, we take advantage of every single deduction we're entitled to. We don't qualify for all of the deductions listed below, but the ones we are entitled to, we take. We always consult with our professional tax consultant for advise. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Small Business Tax Deductions- A Checklist Small business owners looking to take advantage of income tax deductions should be familiar with the expenses they are entitled to claim. The following checklist can help you become aware of what constitutes a tax deductible expense. It should be noted, however, that the complete list of deductible expenses is actually quite extensive and may vary depending on the unique circumstances of your business. Therefore, before making any decisions, you should consult with your accountant or professional tax consultant. * Advertising and Promotional Expenses * Banking Fees Including:check charges, monthly charges, bank wire fees or overdraft fees. * Business Gifts * Business-Related Education, such as seminars, classes, and educational tapes or video * Charitable Contributions * Conference and Convention fees * Equipment and Furniture This includes the cost of the equipment, furniture, or vehicle purchased, as well as depreciation on old equipment, and lease payments * Health-Insurance Premiums * Insurance (for buildings, machinery or equipment) * Interest and Fees (on money borrowed for the business) * Losses Losses from theft, fraud, damage from natural disasters * Meals and Entertainment * Membership Dues * Moving Expenses * Office Rent Expenses * Office Supplies * Postage and Shipping Expenses * Professional Fees Including: legal help, accounting and bookkeeping, architectural, business consulting and marketing consulting) * Property Taxes * Repair and Maintenance On the building, grounds, and equipment * Retirement Accounts for self and employees * Salaries of Employees * Software Costs * Taxes This includes: sales tax on items purchased for business usage, real estate tax on business property, employer’s share of employment taxes, excise taxes and, in some instances, state income tax * Telephone and Telecommunications Expenses Including, Internet, television and other communication usage for business purposes * Trade-show exhibition and/or attendance Including travel, meals, admission fees and costs of booths or exhibitions. * Travel This includes: automobile expenses pertaining to business usage, using either actual costs of repair and gas or the standard mileage deduction, hotels, airfare, meals, laundry and business entertainment while on the road. You can also claim the costs of passports for self and employees when traveling for business purposes * Utilities fastupfront.com edit: I did not see LB's post before posting this.

To: longnshort who wrote (410720)	2/15/2011 10:09:03 AM
From: Katelew	Read Replies (4) \| Respond to of 793561

Maybe you missed where I said "underreport their income". It varies with the type of business and how much cash payments are generated and whether or not bartering is feasible, but a self-employed business owner is relatively free to choose how much income to actually report. This tends to disappear, i.e. become problemmatic, as the business grows in size. You're calling me names and politicizing something I have first hand knowledge of. Get a grip and calm down.