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Business Management

Employ Your Children

Hire your kids instead of paying them an allowance!It is quite common to see children actively involved in the family business. Even young children can perform valuable services. Many business owners, however, miss out on the major tax savings generated by actually hiring their children and paying them a fair wage for their services.The expense is tax-deductible to you, and the income is tax-free to them. [Reg Sec 1.162-7(a) ] The tax-free limit for dependent children was $5,350 per child per year for 2007, and it tends to be increased somewhat each year.

Tags: 
Business Management
Family Business
Submitted by Trevor on Mon, 11/07/2011 - 13:29

Small Business Owners- Get $110 Tax Deductions For Every 200 Business Miles You Drive!

Not taking this deduction is like throwing a $100 bill out your window every time you put 200 miles on your car! Or think of it this way: You could be getting more than $100 in tax deductions for every tank of gas you put in your car.If you currently put 12,000 miles on your car commuting each year, following this procedure would make you eligible for up to $6,600 in new tax deductions. This procedure is completely legal, and your vehicle-use log will document the deduction to the IRS' satisfaction.What about shopping trips and other errands?

Tags: 
Small Business
Tax Deductions
Business Management
Submitted by Trevor on Mon, 11/07/2011 - 13:13

CONSULTATION on the development of your finances

Business owners’ accounting & finance: The vital necessity of financial planning.
Financial planning is the kingpin of business management. It is in this area that you can bolster the results of your own hard work by using a few minutes weekly or monthly for financial planning.
Financial planning is the kingpin of business management. It is in this area that you can bolster the results of your own hard work by using a few minutes weekly or monthly for financial planning.

Tags: 
Financial Planning
Business Management
Submitted by admin on Wed, 05/25/2011 - 14:15
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