The Easter Bunny has received horrible news just days before he is scheduled to make his egg-hiding rounds this year. The IRS is cracking down on Sole Proprietors, such as The Easter Bunny, The Tooth Fairy, and possibly even Santa Claus regarding excessive tax write offs, especially in the mileage claimed for business use.
Entries from March 2008 ↓
The IRS to Audit the Easter Bunny
March 20th, 2008 — Asset Protection, IRS, Sole Proprietorship, Taxes
How to Separate Your Personal and Business Credit
March 7th, 2008 — Business Credit, Credit Bureaus, Personal Credit
You’re a new business owner and decide you need items and services for your business. You take out a loan and your business is off to a great start. A few months pass by, so you take out another loan or open more lines of credit for necessities. You repeat this process a few times during the year. You’re trying to be a good business owner by growing your business but you’re making a critical mistake. You’re using your personal credit for your business.
The Phenomenon
March 6th, 2008 — The Phenomenon
