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Knock-Knock-Knock
Who's there?
The IRS!
The next quarterly payment of estimated income tax for the self-employed is not far off. Network marketers who receive a form 1099 at the end of the year, andor who are expected to owe $1,000 or more in taxes, must file a form 1040-ES Payment Voucher quarterly to avoid paying a penalty.
When it comes to paying income tax air max for sale china , I'm like Arthur Godfrey who said, "I am proud to pay my taxes. I'd be just as proud to pay half as much.
Like most network marketers, I work hard for what I earn and do not savor sending the government any more money than what I legally owe. So you can imagine how I felt four years ago, when I learned I had overpaid my income tax by some $9,800 over three years.
I had trusted the guy who did my tax returns. After all, preparing tax returns was big part of his business.
Once I learned what the law provides home-based business owners to deduct, I went back through three most recent years of returns, revising my 1040 to claim deductions my tax guy didn't have the foggiest notion existed. Or if he did know, he failed to ask me about them.
For instance, my tax guy failed to ask me if I had any dogs. Did you know your dog (or three dogs in my case) qualifies as a "security system" for your home-based business? 100% of all dog food, Vet bills air max for sale , license fees and medication is tax deductible! I have the IRS tax code to prove it. My tax guy didn't know that. I called him on it and told him to look it up for himself.
You see, I did something worthwhile. I invested in a well-known and respected home-based business tax-reduction book. I learned that with some 43,000 tax codes on the books, a typical CPA could not possibly know them all. How could they?
CPA's typically specialize in corporate tax code, and are often short sighted when it comes to tax deductions for home-based business owners. But I now have my home business tax-guide that lays out exactly what deductions I can take and cites the tax code for each one.
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03.01.2020 03:17
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