TIPS

CROWNAFRIQUE TAXPAYER FINANCIAL SERVICES

Maximize Your Business Tax

Don’t pay more than you have to this tax season. Look over these commonly missed deductions. Then take full advantage of the tax breaks you may be eligible for as a business owner or self-employed entrepreneur.

• Auto expenses for actual miles driven or for all actual expenses related to business, including gasoline and repair costs
• Home office expenses
• Bank charges related to business
• Interest and fees on business debt
• Interest on credit card debt — card must be used for business only
• Taxes such as sales tax on business purchases and real estate tax on business property
• Ongoing costs of doing business, including utilities, shipping, office supplies, advertising, and marketing (including sponsorships), rental or lease payments (property and equipment)
• Telephone and Internet charges
• Depreciation
• The purchase of office equipment, furniture, and business vehicles
• Business gifts
• Professional fees (legal, accounting/bookkeeping, architectural, business consulting, and marketing consulting)
• Seminars, classes, educational tapes or CDs, and conventions
• Trade-related journal subscriptions, books, and other literature
• Health-insurance premiums
• Moving expenses
• Charitable contributions
• Losses from theft, fraud, and business-property/contents damage not covered by insurance
• Uniforms and cleaning — as long as the garment is used for no purposes other than business, you may be able to deduct some of the purchase and cleaning costs

With so many deductions available to you, it is critical that you keep accurate records to save as much as possible on your taxes.

We can work for you regardless of your location. Call Crownafrique Financial Services@ 617-417-3979 or e-mail us at crownafriquefinancial@verizon.net.