small business section 179

2021 Section 179 Deduction Limits for Small Businesses Taxes

Small business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. This is especially true for work from home entrepreneurs who file as sole proprietors, or as a Limited Liability Company aka LLC, with sole proprietor tax status. Small business owners …

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Business Tax ID Number – FEIN and EIN Explained

There is an unfortunate amount of confusion surrounding the concept of the Federal Tax Identification Number. It is ironic, because the whole Tax ID, FEIN, and EIN thing is actually very simple, mostly because they are generally all the same thing. However, it isn’t surprising that this concept confused many …

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Home Office Tax Deduction

One of the best deductions for self-employed people who work from home is the home office tax deduction. Basically, you take the square footage of your home office and compare it to the total square footage of your home, and then you get to deduct a similar percentage of certain …

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Capital Gains Home Sale with Home Office Depreciation

If you have a small business, the taxes can be pretty tough to swallow. That’s why you need to be sure that you take all the tax write offs you possibly can to lower your small business tax bill. These small business tax deductions are particularly important for solo entrepreneurs …

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Deduct Sole Proprietorship Business

Can I deduct my business? That’s a question I get a lot from sole proprietors. The trick is that most information about small business taxes reads like it aimed more at slightly larger businesses, specifically, those that have employees. However, the same IRS tax rules that apply to those small …

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Section 179 Deduction 2009 Limits for Small Businesses, LLC, Sole-Proprietorships, and More

Updated Information for 2014 Section 179 Deduction Limits for Small Business Taxes has been published. Business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. Business owners, particularly, single proprietors are often hit with high tax bills because of the Self …

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More Tax Deductions for Small Business Owners and Sole-Proprietorships

A great tax saving strategy, particularly for higher-income taxpayers is to start a small business. Many expenses that are not deductible for regular Federal Income Taxes are deductible to a business. For example, the mileage deduction is not deductible for personal driving purposes, and mileage driving to work is also …

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