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2009 Tax Changes Every Business Owner and Employee MUST Know
Your money might go a little farther this year, thanks to new raised limitations of several common IRS deductions. Use this information to plan your savings and contributions and to take advantage of what good news there is going into 2009.

Other mileage deduction Related Articles

The IRS Increased the Standard Mileage Rate
IRS increased the standard mileage rate but does the "actual expense method" yield better results?

Medical Expenses a Commonly Missed Deduction
Veteran Financial Planner explains the Medical Expense Deduction and money saving strategy.

Obama vs. the Charities!
Veteran Financial Planner explains why President Obama’s reduction to charitable deduction will mean less for charities.

Do you Qualify for Home Office Tax Deduction for Small Business Owners and Professionals?
For several years taking a Home Office Tax Deduction was considered a red flag, inviting the IRS to Audit your tax return. But that may no longer be the case, with more and more businesses and individuals taking advantage of working from home and maintaining a healthy work-life balance. IRS is well aware of the rising trend in working from home office. As long as you use the ‘Home Office’ as IRS defines it. This one tax deduction alone may save you several thousand dollars in tax. For example if you are an independent Information Technology contractor and mostly work out of your client’s office, however you use part of your home to manage the administrative aspects of your profession or business, you may qualify to take the Home Office Tax Deduction. IRS has specific rules to qualify Home Office Tax Deduction.
How much Home Office Tax Dedcution can I Take?
Home Office deduction can probably save you thousands in expenses as well as Taxes. As more and more professionals and small business owners recognize the need to cut down on office expenses and have a better work life balance and with the growing square footage of American Homes in the past decade, it makes sense to use part of your home as an office. Not only can you save thousands on office expenses, you may also be able to reduce your taxes. IRS code provides a special tax deduction for Business use of your Home. You can deduct insurance, utilities, rent or mortgage expense as part of the Home Office dedcution. However there are specific guidelines and limits to the extent of how much you can deduct.
The Drive to Market
Customers, like cars, get much better mileage when they are properly cared for.
The Most Important (Little) Word in Sales
You can get so much mileage from just one little word.
A Time to Reap and A Time to Sow
People must pay their taxes, whether the rules are understood or not. Often, the less you know, the more you pay. The law says that you must pay taxes. But there is no law that says you have to leave a tip. The tax credit, rather than merely lowering the tax bracket as a deduction does, is a dollar for dollar reduction in the amount of tax owed. A one thousand dollar tax deduction may save you a few hundred dollars, whereas a one thousand dollar tax credit puts the entire one thousand dollars back in your pocket. That is nicer.
Georgia's Lemon Law is Revised to protect the Bigger Vehicle Owners
Georgia's Lemon Law was entirely different from the Texas Lemon Law, because of the time and mileage eligibility. The time and mileage eligibility in Georgia was half of what it was in Texas.
Free Money From Uncle Sam!
Do you know the tax advantages that running a home based business can give you? Do you know that your subscription to your internet provider is a tax deduction? How about your membership to your online courses you have been taking all year?

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