Oregon Board of Accountancy David Christensen

Oregon Board of Accountancy David Christensen


Tax Strategies for Self Employed
Unlike a salaried employee, the full scope of tax credits and deductions obtainable in the tax code are now obtainable to you. The number one tax strategy for self employed individuals is to maintain receipts for each company expense and write them off. Practically something can be deducted, so do it. Acceptable expenses include cell phone usage, company mileage, office supplies, home office deductions which includes part of mortgage or rent and so on. If you've filed a tax return while self employed, you are most likely previously mindful of this so lets move on to a lot more particular tax strategies for self employed people.If your expenditures exceed your income for a year, you certainly will not have to pay taxations for that year. What most people don't understand, nevertheless, is that this kind of losses can be carried forward for seven years and deducted against future

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