The old saying goes that death and taxes are the only two certainties in life. Maybe so and maybe not. I’m discovering a third certainty in life: most Americans are paying way too much in taxes to Uncle Sam. There are hundreds of tax deductible business expenses for small and home-based businesses that Americans currently overlook.
Did you know that if you have a home-based business and you take certain steps you could qualify for up to $5,000 per year in tax savings? That means that you could either pay Uncle Sam up to $5,000 less up front in quarterly tax payments or withholdings, or you could get a bigger refund on the back end. You just have to know which tax deductible business expenses to look for.
Now $5,000 sounds like a lot of money so how is it possible that so many people don’t know about these deductions? More importantly, why don’t their tax accountants know about these tax deductible business expenses? Continue reading ‘Tax Deductible Business Expenses Even Your Accountant Doesn’t Know About’ »