Tax Deductions for Professionals

Tax Deductions for Professionals

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Reduce your tax burden with the only plain-English guide to deductions written especially for professionals. Winner of the Independent Book Publishers Association's Benjamin Franklin Award. Architects, lawyers, dentists, chiropractors, doctors and other licensed professionals are subject to special tax rules. With this book, learn how to pay less to the IRS at tax time by taking advantage of valuable tax deductions you are entitled to take. Comprehensive, easy-to-read, and filled with interesting examples, Tax Deductions for Professionals lays out and explains the common deductions you may qualify to take, including: start-up and operating expenses health care expenses vehicles and travel entertainment and meals retirement plan contributions continuing education costs professional fees home office expenses Tax Deductions for Professionals will also help you choose the best legal structure for your practice, with detailed information on limited liability companies, partnerships, and professional corporations. The new edition is completely updated with the latest tax numbers and laws for 2014 returns.If youtrade in your old carto adealer topurchase a newcar, your basis inthe car youpurchase is equalto the adjusted basisofthe trade-in car, plus the ... car is the lower of what you paidfor it (at the time you purchased it forpersonal use) or its fair market valueat thetime you convertit tobusiness use. ... You can determine the fair market valueby checkingused car valueguides, such as the Kelley Blue Book. ... The annuallimit applies toall passenger vehicles, no matter how much they cost.

Title:Tax Deductions for Professionals
Author:Stephen Fishman
Publisher:Nolo - 2014-12-09


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