Archive for October, 2011

PostHeaderIcon Income Tax Deductions Eating Out Major Tax Brake

Income Tax Deductions

      Income Tax Deductions. Eating out could be a major business deduction  We will show you how you might be able to deduct them. If you are in a high bracket it will save you money on your tax return. If you like to pay extra money to the Irs than this Blog is not for you.

Going out to dinner could be a major tax deduction?

                  Income Tax Deduction Out to Dinner Deduction

     Did you know that if you go out to eat it could be a tax deduction? You never know that your server or someone you talk you could be your next client.  There are several ways you can get this deduction.

                                               Leaving Cards on the Table
income tax deductions

      The most common way is to talk to the server or leave a card on the table.  Most servers always say that this job is only temporary.  A little small talk could make this happen. Just ask them are they open to your business. Saying no is the worst think that the server could say to you. Leaving a card on the table is the other way. Not as effective but either way you never know if they are going to call you.  For tax purposes, since you are conducting business this is a deduction.

Talking about your Business

Talking about your business with a client, family or friend is another way to make out for a meal a income tax deduction. The sad or funny part if you go out with your friends or family the conversation will always go back to your business.

How to get the income tax  deduction?

To get the dinner deduction one should get a receipt of the meal.  Most of the time the Irs will accept a bank statement. Just make a note how the dinner was  used for business.

    Corey & Associates has been preparing tax returns since 1984. Our tax professionals are trained to get all the income tax deductions. We make sure to get the best tax refund with our an IRS letter.         

In future blogs will show you how to get other income tax deductions.

If you have any tax preparation questions please call our office 305-823-9228. The office is located at 1800 W 68 St suite 118,Hialeah,Fl 33014. We are located minutes way from anywhere in Miami, Miami-Dade, Miami Gardens,Hialeah Gardens, Miami Lakes or any part of North Miami Dade. Just take the 826 express way at the NW 122 st exit.

More tax tips and videos can be found on our main page at http://1040w2.com .  At our main web page we have Where is My Refund.  A tab to get you any tax form that you will need.   Click her for our You Tube Channel to find the latest tax Videos. Keep up with the latest tax at our Facebook page. Click here to like us
Why you need to EFILE tax return at http://efiletax.biz

Income tax deductions need to go on special forms.

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PostHeaderIcon Home Base Business Deductions you use to Pay less to the IRS

Tax deductions when you have a Home Based Business

In this Blog Post: Corey & Associates will show you the tax deductions of a home based Business. If you are in a high bracket it will save you money on your tax return. If you like to pay extra money to the Irs than this Blog is not for you.Cell phone ,your car and eating out are the major deductions for a home based business.

Automobile Deductions

Did you know that your car could be major deductions on your tax return if you have a home based business?  Keeping a log book when you get in the car is one of the requirements.   Just talk to someone about your business and that becomes a deduction.  You will never know if that person could be your next client or the prospect who takes off. You can deduct 50 cents a mile.  If live in a state that has tolls they are also deductible.

Cell Phone Deduction

Your cell phone could be a deduction when you have a small business.  To make a deduction you have to make a greeting about your business.  Changing your voice mail is also a requirement.  When you answer your phone you would identify what you would doing. A good example if you are a BAKER, the greeting would be “Best Cakes ever can I help you “. On you voice mail you would put “  Helping a client with a cake of  their  dreams.  Please leave a message and I will make create the cake of your dreams.”

The point here is you are promoting when you answer the phone.  I can tell you that I have make a few more dollars with this tool. You get the I did not know statement.

Out to Dinner Deduction

Did you know that if you go out to eat it could be a tax deduction? You just have to leave a card on the table or ask the server a question about your business.  I was always told never judge a book by its cover. That person could be your next client or prospect that makes your business grow.

Who am I

My name is Albert, Senior Partner with Corey & Associates Tax Accountants. Since 1985 we have been helping the small business owners with their taxes. I have saved my clients lots of tax dollars. The office has generated lots of free clients by doing this. Just call me at 305-823-9228 and you find out my message. If you email me at albert@1040w2.com my auto responder will promote me every time.  This get me the “I did not Know”. If you are in the area come by the office which is located at 1800 W 68 St suite 118,Hialeah, Fl 33014.

 

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PostHeaderIcon Income Tax School Credit

                                   Income Tax School Credit

      Income Tax School Credit.  Do you pay to go to College, University or a technical school?  The Government will give you a tax credit. On your tax return this will help you.

If you are paying out of your pocket to go to school

l then there is a income tax school credit to help you with some of the burned.  A tax credit is design to deduct the credit from   your tax liability.

What is Tax Liability?

Income Tax School Credit

Income Tax School Credit

Tax Liability is the  amount  tax  you would owe the government after all of your deductions. A refund is when  you gave them more than the tax.

Tax Credit

A tax credit is an amount that you’re allowed to subtract from what you owe in taxes. When you pay college costs, you can subtract a certain amount from your tax bill later on. If your parents pay college expenses for you, they get the tax credit.

               Income Tax School Credit

        What Can the Credit be applied for?

The credit can be applied for course related books and Supplies. It can also be used for tuition and fees.

Lower income tax payers could get some of the credit directly back to them as part of their tax refund.

Who can qualify for the Income Tax School Credit?

The student must be enrolled in graduate School. For a undergraduate studies must be a part time student. This also applies for anyone who is going to Trade or technical school or

other legitimate education credentials

If you are being claimed by a parent then they can take the credit.

If you are not listed as a dependent on another person’s tax form — and you’ve laid out money for college expenses — you can claim the credit.

         This post was prepared by Corey & Associates Tax Accountants. We have been preparing tax returns since 1984. Our clients get the best tax refund with out getting an

IRS letter. Our motto is we want to be our friend and not a client. Clients only come once but friend comes even in the off season.

Our office is locates at 1800 W 68 St Suit 118, Hialeah, Fl 33014. Just Minutes away from Miami, Miami-Dade, Miami Lakes, Miami Gardens, Hialeah Gardens or any where in North Dade or Broward  counties. We are just off the 826 at NW 122 St exit.  Open during the off season.  From January to April 20 open 7 days and Nights.

Can contact us at 305-823-9228 and email us at albert@1040w2.com.  Our main web sight, Http://1040w2.com has tax return tips and videos. You can also click to find Where is my tax refund.

We have a special page on why you should E-FILE just click  here to see it.

Our  tax firm is all over the web.  Click her to like us on Facebook to keep up with our daily tax post and IRS Jokes  You Tube for Video Tax tips

 

 

 

To Contact us

1800 W 68 St Suite 118

Hialeah, Fl 33014

305-823-9228

Facebook.com/albertcorey

Youtube.Com/tax10999a

 

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