If you run a home-based business, you might be confused about what you can and cannot deduct as reasonable expenses. Some home-based businesses make critical mistakes and are red-flagged by the Internal Revenue Service. However, with a little guidance, you can start a business that will stay under the radar and keep you out of hot water:
Entries Tagged 'IRS' ↓
How to Avoid Being Targeted by the IRS in your Home-Based Business!
February 2nd, 2009 — Home Based Business, IRS
One Million Dollars or $22,000? Tax Planning May Be the Difference
Donald Trump says that if you want to be a millionaire, you must get your tax affairs down to the legal minimum.
Money Mastery is a book written by a gentleman named Alan Williams, who said the exact same thing.
Two Great Myths Regarding Taxes
Sandy Botkin is a former IRS attorney with real IRS experience, as well as a CPA. He was also a trainer of IRS attorneys. Sandy was involved is a lot of the stuff that goes on with audits and things like that. Plus, he was one of the founding members of the IRS Tax Shelter Committee, which is why the initial IRS attack on tax shelters was really because of Sandy and five other guys.
The IRS to Audit the Easter Bunny
March 20th, 2008 — Asset Protection, IRS, Sole Proprietorship, Taxes
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.
