id you know that putting a logo on your car doesn't make it a tax deduction? But you can write-off the cost of the sticker...
You don't pay taxes, they take taxes. - Chris Rock
Misunderstanding
Taxes aren't the highlight of my year, but they may not be as bad as they're made out to be.
Here's a few things I found interesting.
Not Deductible
Food
- Planning to show your client a good time, and lower your tax liability? Apparently this is frowned upon.
Entertainment
- Probably don't hold that "business meeting" at Disney World unless you don't mind a bit of scrutiny from your IRS friends.
Education
- This one is two sided. You can write-off books, seminars, etc., but only for content relating to your current career. I suppose neither your boss or the IRS feel like supporting your fresh start.
Phone
- If you want to write-off your personal cell phone then get ready to itemize it's use. (I think I'll pass on this one.)
Advertising is Deductible
Media
- Internet
- Radio
- TV
- Signs
Marketing
- Promotional Items
- Websites
- Videos
- Posters
- Business Cards
Online
- Newsletters
- Pay-Per-Click Advertising
- SEO services
- Social Media Management
“Money is a terrible master but an excellent servant.” – P.T. Barnum
