Since its tax time, I was wondering what you use as tax deductions each year? Thanks
All business related expenses.
Don’t forget milage.
Your taxes for 1st and 2nd year in business should always be done by a professional that specializes in business taxes. They will get you set up so if you make it to subsequent years you can attempt to file yourself. We set it up this way and once completed, loaded both years into a Turbo Tax program that now leads us down the proper path each year. Between stock/bond investments, rental properties, the new business and personal, it was quite cumbersome. Now it is easy can be.
Thanks. Hoping to get specific items. I had to look up a bunch of different things i could write off when i first started, things that i did not know about for years. There maybe someone new in here that can see.
A good accountant will save you more than his fee.