Yes, it’s tax time again. As a self-employed business owner, it’s important for you to have a handle on your business and know what is deductible and what isn’t.
Invariably when I talk about taxes with creative entrepreneurs, someone will tell me they have an accountant. “Terrific,” I say. “But what does she know about your business in particular?” You go to an accountant because she knows taxes. She can be very knowledgeable about small businesses, but she cannot know the nuances of every type of small business. She works with what you give her. That’s why it’s important for you to do your own research, understand tax strategies and keep track of deductions to which you are entitled. Here are nine tips for maximizing those deductions. To be sure that these apply in your particular instance, be sure to discuss with your accountant.