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Started my own business &need info on tax deductible items,max$ 4 lunch&gfts,allowed,etc plse help, easy links

January 7th, 2011 admin 1 comment

i am in wholesale fabric busnines, made sales about 80,0000/year, but little profit to take home, so how can i reduce my taxes, what is allowed what is not, health club, medical bils,lunches, gifts, all these extras, and which is essential as well. Please advise

Get an accountant and run all this by him. you want to do it all legal.

A CPA would be very helpful and would be able to deduct a lot of your expenditures in a nice legal way that will avoid the IRS from owning your ARS.

To be honest with you the IRS only audits every 1 out of a 1000 business's with less than $100,000 in annual revenue. get yourself a shifty accountant who will manipulate your tax papers.

Screw the government, they get enough of our money.

Find the tax form for your business at irs.gov. are you self-employed (Schedule C), partnership or corporation? then look at each line for deductions allowed. That is it.

Started my own business &;need info on tax deductible items,max$ 4 lunch&gfts,allowed,etc plse help, easy links

Tags: wholesale fabric, taxes, own business, amp, club medical, cpa, expenditures, FABRIC
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