There is a sales tax deduction for sales tax paid on major items such as cars, trucks, airplanes, (this includes leasing of the vehicle) motor homes, mobile or pre-fab homes… and improvements to your home (think bricks and mortar, not cosmetics, not large TV’s, not fans, not appliances).. best examples are tile floor, wood floor, […]
Category: Income Tax
Mileage Deduction – what about driving to the office?
Driving from home to your first place of business (notice I did not say office) is not deductible. From home if you visit a client first, no deduction (first place of business) but to the next place of business (office or another client) is deductible. From your last place of business home (again, notice I […]
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LLC Operating Income is taxed how?
How is the LLC operating income taxed? The tax side is way different… BAD. A single member LLC is a “disregarded” entity. Thus, the LLC would not do a separate tax return as would a corporation. The owner (now you know to say member) would account for the income exactly as a sole proprietor on a […]