Top 10 Home Business Tax Tips

AAA

One of the great virtues of starting a home business is the tax breaks you can claim. However, a popular belief is that claiming aggressive - and maybe slightly exaggerated - write-offs is a sure-fire way to attract IRS auditors. We'll look at some of the more popular home business write-offs as well as some tips on how you can legitimately claim them. (Homebodies can save big on their tax bill. Learn how in How To Qualify For The Home-Office Tax Deduction.)

  1. No results found.
Related Articles
  1. Taxes

    Top 10 Home Business Tax Tips

    If you work for yourself, make sure you are getting the most for your tax dollars.
  2. Taxes

    6 Tax Breaks That Anyone Can Claim

    Tax deductions and credits aren't just for big companies. You might be surprised how many tax breaks apply to your return.
  3. Managing Wealth

    The Best Part About Owning A Home: Tax Deductions

    There are many home ownership tax deductions you can take advantage of. Here are some of the ones you need to know about.
  4. Taxes

    Maximize Your Tuition Tax Benefits This Year

    To help college students pay their tuition bills and give America that extra push to get an education, the government has come up with a $2,500 tuition tax credit.
  5. Taxes

    Top Tax Advantages of Buying a Home

    Don't forget these deductions and credits that homeowners can use to reduce their tax bill.
  6. Taxes

    Tax-Saving Tips For Canadian Taxpayers

    Find out how to get a bigger return.
  7. Taxes

    Tax Avoidance Or Illegal Evasion?

    Find out how to avoid the most common tax filing mistakes and audit triggers, so you can deduct with a clear conscience.
  8. Taxes

    The Great Canadian Tax Quiz

    How much do you know about the taxes you pay? Here's a list of 10 tax questions to test your knowledge.
  9. Investing

    Understanding Write-Offs

    Write-off has different meanings depending on the context in which it is used, but generally refers to a reduction in value due to expense or loss.
  10. Managing Wealth

    10 Tips for Avoiding a Tax Audit

    To help you avoid a tax audit this year make sure you stay away from these ten red flags.
Hot Definitions
  1. Efficient Frontier

    A set of optimal portfolios that offers the highest expected return for a defined level of risk or the lowest risk for a ...
  2. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  3. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the ...
  4. Border Adjustment Tax

    A tax levied on goods based on where they are sold – exported goods are exempt from tax; those imported and sold in the ...
  5. Profit and Loss Statement (P&L)

    A financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually ...
  6. Blind Trust

    A trust in which the trustees have full discretion over the assets, and the trust beneficiaries have no knowledge of the ...
Trading Center