Tax Mistakes or Tax Breaks Part 4

I love working with stained glass, and have taken several classes in a studio of a private home. The instructor also designed a gift shop area out of a portion of her living room, where she sold stained glass supplies as well as art pieces she created. Some self-employed people may purchase property and equipment for a…

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Tax Mistakes or Tax Breaks Part 3

Doesn’t it seem that the older you get the faster time goes? One day I was celebrating my 16th birthday. Then the next day I was battling hot flashes and watching my youngest child graduate from high school. Many of us start out in life full of hopes and dreams. We also strive in our…

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Tax Breaks or Tax Mistakes Part 2

There’s no place like home. Most self-employed taxpayers’ businesses start as home-based businesses.  Portions of business costs are deductible.  If your gross income from your business exceeds your total expenses, then you can deduct all of your expenses related to the business use of your home.  If your gross income is less than your total…

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Tax Breaks or Tax Mistakes

The other day I was half-listening to a radio talk show while driving to the grocery store. No big deal, right? I mean, don’t we all half-listen to radio talk shows now and then? Then the host grabbed my attention with this statement: “The tax laws in this country protect two classes of people –…

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