Tax Tips

Tax Tips: Business Use of Vehicle

Actual Costs Versus Standard Mileage deduction If you use your car only for business purposes, you may deduct its entire cost of operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost of its… Read More
Paul

Ideas and Tips for Taxes with Starting Your Gig Business

Establish a business bank account Only do you revenue and expenses from this bank account After your expenses are paid then that is your profits, transfer that to a personal bank account for home expenses Do not mix home expenses and business expenses If you are a two income household,… Read More
Paul