|Real Estate Information|
Seven Key Tax Deductions for the Self Employed
As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions.
Seven common small business tax deductions:
1. Employee Benefit Plans - You may deduct contributions to employee benefit plans such as health insurance plans and retirement plans. Depending on your circumstances the maximum contribution that you may deduct per employee in a qualified retirement plan can go up to:
$100,000 or more For a Defined Benefit Plan $44,000 For a 401k plan $41,000 For a SEP-IRA or Keogh
2. Automobile Expenses- You can elect to deduct the actual expenses incurred including gas, oil, tires, repairs, insurance, depreciation, and rent or lease payments for the business-related portion of your car or truck expenses, or simply take the 2004 standard mileage rate of 37.5 cents per business mile.
3. Taxes - You may deduct Social Security and Medicaid taxes paid to match required withholdings on employee wages, federal unemployment taxes, sales taxes and real estate or personal property taxes paid on business assets.
4. Home Office - Depending on whether you use your home or other real estate for business purposes, you may deduct some or all of any mortgage interest paid, as well as some or all of the maintenance and repair expenses associated with the property. The cost of utilities and business supplies associated with business use are also deductible.
5. Depreciation - Depreciation may be taken on passenger cars, equipment used for entertainment or recreational purposes i.e., photographic equipment, cell phones and computers, as long as these items are used solely for the business.
6. Professional Fees - You can deduct professional fees, such as those paid to a lawyer or accountant.
7. Meals and Entertainment - You may deduct 50 percent of meal and entertainment expenses directly associated with the conduct of your business.
Remember to keep on file the records and documentation necessary to substantiate all of your deductions.
The Curious History Of Wine Consumption In America
The history of wine consumption in America has been frought with starts, stops, and inconsistencies.The American population has always had a love-hate relationship with alcohol.Historic prohibitionist attitudes amongst much of the American population have blurred the line between moderate wine consumption and detrimental alcoholism.As a result, regular, moderate consumption of wine by the American public continues to face ideological and legal impediments.
Mortgage Consumer Bill of Rights
This bill of rights was laid out by Franklin Raines, president of Fannie Mae on January 15, 2000. The Mortgage Consumer Bill of Rights is a pledge fof $2 trillion over 10 years to help consumers gain access to home ownership.It also includes an “Open Book” approach to underwriting where customers can see all of the factors that go into evaluating their creditworthiness and the process of applying for a home loan.
Do You Make Less Money Than Your Taller Peers
A recent study at the University of Florida found that over the span of their careers short people earn less money than their taller counterparts. In terms of cold hard cash, each extra inch in height equals roughly $800 difference in annual pay. So, essentially a person standing at 5 ft 8 inches tall will make about $9600 less annually than someone standing at 6 ft 8 inches tall.
Disaster Decision - Do You Need Insurance
The expenses involved with owning a home can be overwhelming at times - routine maintenance, repairs, seasonal preparations, improvements. Not to mention taxes, fees, and all those monthly bills. Some homeowners, in trying to reduce their expenses, wonder if they really need disaster insurance.
How To Jump Start ANY Business
Typically it is said that when you open up a new venture, it takes fro 2 to 5 years of steady growth before you can call it a success.All things considered, this is true and because it is true, it is all the more important to do everything correctly, right from the start!So here are 7 guidelines on engagement for every business entrepreneur.
Flat Fee MLS Listings - Is this the future of real estate
Realtors are all a buzz about this new form of listing houses on the MLS multiple listing service. Some feel it creates more work for the buyers agent, while others see this as a way to tap into the For Sale By Owner market.
Scaling Down almost Painlessly
Moving to a smaller house or apartment in a retirement community almost always involves a certain degree of trauma, both for the elder whos moving and for family members. However, by planning ahead you can reduce the discomfort involved and turn what might well become a nightmare into a pleasant event.
The Magic of Design
There was a time people thought the world was flat. At another point in history it was believed that women didn’t have the know-how to run a business or change a tire. Then there was the one about man not being able to fly. Over time all of these fairytales have proven untrue.
Determinants Of Success- Revisited, Again.
If you have been a long time subscriber to this newsletter you have read about the determinates of success before. If you are new, hold on to your hat because this is some powerful stuff.
Remodeling Your Home:How Much Is Too Much
The classic way for homeowners to increase the value of their house is by remodeling existing rooms or adding on to its current plan.
How To Determine The Price Of Your Home
Why is it that some homes sit on the market for a year while others sell like hot cakesFrustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.
Naples and Southwest Florida Real Estate Is Hot!
There has never been a better time to Invest in Naples and Southwest Florida Real Estate!
Its The Same Deal For Both Search Engines And Real Estate
Its all about location, location, location!
Spring Into Action: Home Maintenance
Spring has sprung! Even more important than buds, birds, and bees, spring brings buyers! When buyers are looking for a place to nest, they would really rather not see problems. As it turns out, nearly every home inspected has problems or imperfections of some sort or size. Most issues are very minor and simple to correct. Almost all are a result of deferred maintenance.
Networking - Outside The Box
We receive numerous emails regarding how to network. For those of us in lease purchasing its easy, for others not so easy.For example, those in the travel business have been hit hard by business slowing down. Why not try to network with some of the tanning salons, and offer discounts to those individuals for cruises and/or exotic locals. Or network with B&B owners in your own state or neighboring states and offer your customers weekend package deals.Spas are becoming very popular. Network with some in your own state or surrounding states and then offer specials to your clients.
How to Become a Successful Entrepreneur on the Web
Becoming a successful entrepreneur in the online world is no different than becoming a successful entrepreneur in the brick-and-mortar world. Both tasks require vision, determination, and hard work.
Uncle Sam is Ready...Are You Organizing Tips for Tax Time
Anyone who is closely related to an accountant knows that there are not four, but five seasons in a year: Spring, Summer, Fall, Winter, and Tax Season. During the other seasons, we accumulate leaves, snow, and mosquito bites. During Tax Season we accumulate paper. And more paper. And if you have a small business or investments--even more paper.
Real Estate Professionals Need You to Write for Them!
Ask yourself these questions:Are you an experienced writerDo you want to stay at home to writeDo you want to work for yourselfDo you learn new things quicklyAre you interested in a broad number of subjectsDo you feel like you’re being pigeonholed with your current writing and you want to branch outDo you have a flair for marketing
Top Ten Creative Strategies for Inspiring Creativity Where You Work and Play
Websites, automobiles, milk cartons, living spaces. Design saturates every aspect of our lives and the difference between success and failure could be the color purple, could be the person that you talk to every morning when you wake up, or could be the amount of light that streams into your office every day.
How to Get the Best Price for Your House
The best price to sell your home is always determined by how you compare against your competition, the house down the street. If your property looks better than the next guy’s the customer will buy yours.
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