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re: How can I reduce my taxable income?

Posted on 4/16/12 at 12:09 pm to
Posted by ColdDuck
BR via da Parish
Member since Sep 2006
2781 posts
Posted on 4/16/12 at 12:09 pm to
I rent space... all that gets written off as expenses. I do mileage rather than car writeoffs since I get more on teh mileage side.

I do all the usual write offs, meals, office stuff, telecom, advertising, postage, blah, blah...
Posted by LSU0358
Member since Jan 2005
7920 posts
Posted on 4/16/12 at 12:40 pm to
quote:

I do mileage rather than car writeoffs since I get more on teh mileage side.


Good call. The reason I ask is a friend of mine had a small business going and wasn't paying mileage nor did he have a company car.

quote:

I rent space... all that gets written off as expenses.


Buying a space could knock down the taxable income. If possible, with more space than you need and rent out the rest.
This post was edited on 4/16/12 at 12:41 pm
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