Home Business Expenses

Home Business Expenses

7 December 2015

Small Business Owner? Don't Miss These Strategic Tax Planning Tips

If you work for yourself, either as an independent contractor or as owner/operator of a small business, then you're probably worried (or confused) about the effect your tax bill has on your bottom line. Here are some strategic tax planning tips to help you make smarter choices for your financial health, not just on April 15th but all year round. Paying Your Quarterly Taxes Independent contractors are supposed to report and pay their federal income tax on a quarterly basis by returning a 1099-ES form.
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About Me

Home Business Expenses

About two years ago, I started a home based business. I sell items I create exclusively online. While I love my new job, I’m not very knowledgeable about business practices. When I visited my accountant in order to file my taxes last year, I discovered all of the business expenses I should have documented. Now, I keep a detailed spreadsheet of expenses such as printer ink, paper, utilities, and home owner’s insurance. Whenever I purchase something new for my business, I immediately input how much I paid for it into my spreadsheet. On this blog, you will discover various home business expenses you can deduct on your federal and state income tax forms.

2023 Home Business Expenses