Every once in a while you hear an inspirational story about someone who overcomes horrendous life circumstances, and achieves extraordinary success in spite of it all. Life gives them a lemon, so to speak, and they make lemonade out of it.
Did you buy office supplies? Postage? Business cards? What about advertising costs, web hosting fees, professional fees, software, education expenses (if directly related to your business)? These are some examples of expenses that you can include in your home business deductions. See IRS Pub 535 for additional information.
The teams were assigned special tasks to rack up points and keep them in the game. The women to be able to utilize the Dewey Decimal system in order to find a specific book and also conduct a television interview with an author. The fellas had to go out on the streets and get complete strangers to do them a favor (i.e. rub suntan oil on their backs or lend them a cell ‘phone, etc.). they also had to perform their own original standup at The Laugh Factory (as though the place didn’t already have problems since the Michael Richards thing)!
Ask for legal advice. It is a rare Sunday when I can go to church without being asked a legal question by someone. In their non-work lives, lawyers are routinely peppered with requests for free legal advice. Imagine if you were a Best Affordable Torrance CPA and a friend had you over for dinner, then asked, “Hey, while you’re here, would you mind reviewing my tax return?” That is what it is like for attorneys when friends ask for casual legal advice. If you do ask your date for advice, he/she will probably be a good sport about it, but try not to mix business and pleasure in that way.
The question that most of you are asking is this: Why doesn’t the Government do this? Very simply, it would cost too much money for them to implement a plan like this. We have already spent dollar after dollar on programs that were doomed from the beginning.
TurboTax can also do some analytics on your upcoming year. Watch it do some withholding analysis or evaluate 401K contributions. Spend a little time with it after your tax return is filed and discover the other tools it offers for next year.
In closing I would like to say, don’t look for any real tax changes out of the new jobs bill. Once the proposal is announced I will go through it, and let you know what the tax savings will be to you.