Some Weird Small Business Deductions

So, the holidays are over and you’re adding up your books (you’d BETTER be adding up your books-tax time is coming!). You know full well to add up your monthly income and common deductions like EI and CPP for your employees. But what are some deductions that you may have missed that could be costing hundreds of dollars? Here are some weird small business/self employed deductions that may never have occurred to you.

  • Cost of replacing materials. If you’re a writer/artist/photographer, etc and you need to buy new equipment, you can claim the new piece as a tax deduction. Even
Read more at 2009 Tax.

Do I Need a Tax Consultant?

Do you need a tax consultant? Even if you’re educated enough to know about your state’s tax laws, they change quite frequently. It’s often in your best interest to learn how to find a tax consultant. Your best bet is to find someone qualified and up to date with the latest tax laws. The best way to find a tax consultant is when you need them the least. That means not waiting until tax season to find one. If you wait that long, chances are that all of the good ones will be taken by then. Instead, find one … Read more at 2009 Tax.

Why Look for a 401k Investment Advice?

Almost all people want to be secured when they retire from work. The 401k is one vehicle that can help you to be financially secure when you retire. This retirement savings plan is part of the US government program for employees to have savings that is tax deferred and could invest earnings in saving. The money or contribution are sponsored by employers wherein the workers choose to have a portion of their salary paid into their individual 401k account where it can grow until retirement.

The 401k retirement plan has a lot of good things to offer you. If … Read more at 2009 Tax.

How Inflation has Bolstered Commodity Prices

Perhaps the simplest of all financial misunderstandings is the idea that inflation is a “static” concept that exists in the same way for all markets and regions. This isn’t true. For example, just because a national inflation rate is reported at, say, 5%, doesn’t mean that every market and every region of the nation is experiencing 5% inflation.

Part of the nation could be experiencing 10% inflation, while other regions could be experiencing just 3%. Some markets could be seeing prices go down (like the real estate market) while other markets could be experiencing extreme inflation, like the silver and … Read more at 2009 Tax.