Debts and taxes have a great deal to do with each other. Properly managed and maintained, debts can actually be an asset when it comes to paying your taxes this year.
You have just left your most recent job and have started work elsewhere. Those years spent with your previous employer were highly beneficial, enabling you to rise through the ranks and enjoy a greater salary as you moved up.
Small business operators have a number of tax deductions available to them including deductions for business trips. About such deductions the IRS states, “Travel expenses are the ordinary and necessary expenses of traveling away from home for your business, profession, or job.”
Your boss has you using your personal vehicle to meet with clients, an occasional requirement that has you wondering how you will recoup your costs. If you are fortunate, your company pays your expenses, but if you work for a small company, you may have to eat those costs yourself.
You have a small business and are already familiar with the mounds of paperwork that you must contend with on a regular basis. If you are lucky, much of these documents can be electronically transmitted and saved, making paperwork management easier to handle.
There are two ways to repair your damaged credit. One way involves employing suspect methods where you attempt to convince creditors that you deserve a better rating, while the other way involves a concerted and long-term initiative to enhance your credit standing.
By early February, you should be well on your way to having your federal and state income tax forms organized and ready for your tax accountant. If you re particularly brave, and especially if you possess a solid tax software program, then you will handle the work yourself.