Monday, January 26th, 2009...7:49 pm
Tax Deductions
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Caveat: I (writer of wedding photography blog) am not a certified CPA; make sure you consult local, municipal, and state laws with a certified accountant.
With a start of a new year its an opportunity to plan out fiscal plans. Some of you might not be doing taxes or thinking about tax returns yet; but there are lots of chances for 2009 to be a more profitable year by taking advantage and using areas of deductions.
The following are areas of deductions:
- Automobiles
- Bad debts
- Depreciation
- Employee compensation
- Home office
- Insurance
- Interest
- Legal and professional fees
- Pension plans
- Rent
- Taxes
- Travel, meals and entertainment
- Receipts Of Meals and Entertainment
Turbotax and Kiplingers have teamed up and provide a great free guide that will give you some great ideas on how to maximize deductions. The guide is very comprehensive and gives very specific areas and ideas of what is legitimate and can be used to maximize your tax deductions.
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