When you are self-employed, you can deduct your mileage expenses for driving for your business. Mileage deductions can be overlooked, but every cent matters when tax time comes! And, at a rate of 56 cents per mile for 2021, it would be a mistake not to claim it. If you use a car solely for …
Deductions Articles and Interviews (tag)
The Benefits of Donating to a Charity for Your Small Business
If you’ve been considering donating to a charity, but don’t really understand how the gesture would benefit your business, then you came to the right place. Business experts agree that charitable giving can provide businesses with a sense of purpose and help it in countless other subtle and overt …
5 Misconceptions About Business Tax Deductions
Tax season is just around the corner and if you run your own business, you’d better get prepared. Business taxes can get complicated and there are a lot of misconceptions going around that make them seem like a non-issue. The fact is that the government has very strict tax regulations that don’t …
Small Business Tax Deductions You Need to Consider
When you run your own small business, you are always looking for new money-saving strategies to boost your bottom line. One of the ways you may be leaving money on the table, however, is by not taking some of the tax deductions for which you are eligible. This oversight is easy to do because the …
4 Factors to Consider Before Purchasing or Leasing a Vehicle Through Your Small Business
There are times when buying or leasing a vehicle through your small business is a must. After all, it’s pretty hard to make your flower shop deliveries or show your real estate clients homes without a set of wheels. The same holds true if you own a service-based company—such as one that specializes …
Should Your Small Business Donate to a Charity?
In 2014, over $358 billion was donated to charitable organizations, associations, and causes, $17.8 billion of which was given generously by corporations versus individuals (source: Charity Navigator). This amount represents a 13.7% increase over previous years, which shows that businesses are …
