Clothing For Work As Tax Deduction

Clothing for Work – Can I Write It Off?

Tax
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Can you deduct clothing or shoes as a business expense for taxes?  One of the greatest things about being an online business owner is the wardrobe perks so I couldn’t resist finding out about whether or not clothing for work could be a tax deduction. Now, about those online business owner wardrobe perks.  Can I...
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tax season, taxes, countdown, list

2016 Tax Season Countdown: February

Want a stress-free tax season? Here’s the stuff you need to do and when you need to do it.   My mom used to always grumble when Christmas advertisements showed up a week before Thanksgiving. “They’re ruining the holiday,” she said. I remember thinking Um, you’re crazy…who doesn’t want to think about Christmas as soon as possible?!…

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VAT Tax Updates + Tools for Digital Product Sales

Tax
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If you sell digital products overseas, the European Union (EU) has passed updates to the VAT tax that will affect you and your accounting.  If you are unfamiliar with the VAT, here’s a down and dirty overview. VAT stands for Value Added Tax. In this system of taxation, goods and services are taxed at each step…

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Marketplace Fairness Act

Marketplace Fairness Act Bill Gets a New Push in 2015

Tax
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Just when you thought it was safe to dip your toes into the blue ocean waters of online retail, a menace from the deep is again lurking below the surface. It called the Marketplace Fairness Act (MFA) bill and it has been newly re-introduced for 2015. Marketplace Fairness Act: What It Is and What It…

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Fast Facts on Assets, Amortization and Depreciation 

Tax
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If your business earns $500,000 in a year. It may be tempting to try and offset those earnings by claiming more expenses. But the IRS will certainly want you to explain if you claim 20 or 30 percent of your revenue was eaten up by expenses. You can’t just buy a $50,000 automobile for the…

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