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Business Expenses for Unusual Occupations
Charlee Chartrand as Superman from the Post Dispatch article, see link for full story. What do you do for a living? Are you in advertising, construction, real estate? When you tell people what your...
View ArticleSmall Business Basics
I’ve done a lot of posts about unusual small business deductions, but I haven’t done anything about the basics. If you’re new to the small business world, that’s what you really need to know. These...
View ArticleLast Minute Tax Tip: Pay Up Your Alimony Now
Let’s face it, divorce sucks and paying alimony is even worse. But if you have an arrangement where you are supposed to be paying alimony (and I mean alimony, not child support) it’s to your advantage...
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Last Minute Tax Tip: Deductions for High Income Earners
The idea of tax deductions for high income earners must sound preposterous, especially if you’re a high income earner. You know how it goes, you try donating money to charity or taking advantage of...
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Last Minute Tax Tip: Hire Your Kids
Reduce your taxes, hire your kids to work for you! Do you own your own small business as a sole proprietorship? Do you have kids? If so, did you know that you can pay your kids to work in your business...
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Tax Tips for Gay Couples
Even if you're legally married, federal tax law doesn't recognize your marriage. There’ve been a lot a changes this past year with some states legalizing gay marriage, some authorizing civil unions,...
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Missouri Health Insurance Deduction
Cartoon by Bob Conroy, copyright 2009 When you live in a state that has an income tax, like Missouri, you need to be aware of the state’s little deductions that aren’t automatically on your federal tax...
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Small Business Owners: Are You Claiming Too Many Deductions?
Photo by Herkie at Flickr.com The short answer: probably not! This is a sentence I hear at my tax desk every year, “I bought this for my business or I did that for my business but I’m not going to...
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What is a Progressive Tax? What is a Flat Tax?
Photo by Images Money at Flickr.com I see a lot of internet questions about flat taxes and progressive taxes. It seemed that since I do a tax blog, it was time to tackle those basic questions. A...
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What Business Gifts Can I Deduct on My Tax Return?
This photo is by Michael Wyzsomierski and can be found on Flickr.com. If you give a gift as a part of your business it’s a deductible business expense. BUT! You can’t deduct more than $25 for...
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Itemized Deductions 2016
The 2016 GOP Tax Plan calls for eliminating many current tax deductions like state and local income taxes. Is 2016 your last chance to itemize your deductions? It’s possible. With a Republican...
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3 Numbers That Can Get You Audited!
Certain numbers on your tax return can cause the IRS to be more interested in you than you might like. Can just one number cause you to be audited by the IRS? Probably not. But there are some...
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