It can be hard to know just *what* is tax deductible for small businesses - check out this comprehensive article on how you can save at tax time!

From site:
"Top Ten Deductions for Your Business

1. Car Deductions
2. Office Expenses
3. Business Travel
4. Meals and Entertainment
5. Depreciation
6. Rent for Equipment and Tools
7. Supplies
8. Legal and Professional Services
9. Insurance
10. Business Start-Up Expenses "

Read more in-depth information on the subject of small biz tax deductions here.

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Perfect timing!
I'm in the process of figuring out the differences in taxes for once I make the switch. Turns out it's very different, but not too hard to navigate the process.
I say that now, but may change my tune when it comes time to file as an independent contractor.

And we need every deduction we can think up!! thanks for the list I am a big save every deduction.. going out to eat has become a great time to "Talk Business!"

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Winslow Girl Virtual Assistant
www.winslowgirlva.com
Taking Virtual Assistance to the Next Level

The first rule of thumb for a subcontractor is: deposit 33% of your NET revenue EVERY QUARTER! As painful as it is, it's less painful than trying to pay the whole amount at once AND there are penalties if you don't deposit every quarter.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

Totally agree.. I always utilize every deduction known to man the IRS lets us. If they have it listed as a deduction, I make sure I use it. I do my research to know all deductions we can use. My first year I didn't utilize what the IRS allows for small business deductions, and I lots a lot of money because of this. So know, I am smart with my business. I keep business receipts. I give to Goodwill, charities, tithe and soo many more, we can use at the end of the year! Keeping all of our receipts for business is another great tool.

Bottom line to all of us independent contractors.. Deductions are Important

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Winslow Girl Virtual Assistant
www.winslowgirlva.com
Taking Virtual Assistance to the Next Level

Lily, you are so right about that - it's very important and makes more sense to deposit this amount regularly rather than paying all at once (but it *can* be a bit painful )
And Jackie, yes - receipts receipts receipts!!

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Hey Tess, is there another way i can get to the articles? When i click on them it says page not found.

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Alisa A. Beatty ~Assistance You Can Count On~ www.virtual-jane.com

I am lucky my first client was my sister at AMH-Accounting.com she's the best!

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Julie Lord,Badgerland Assistants
www.badgerlandassistants.com