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re: How can I reduce my taxable income?

Posted on 4/16/12 at 12:40 pm to
Posted by LSU0358
Member since Jan 2005
7947 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
Posted by ColdDuck
BR via da Parish
Member since Sep 2006
2816 posts
Posted on 4/16/12 at 12:47 pm to
quote:

Buying a space could knock down the taxable income. If possible, with more space than you need and rent out the rest.

Well that is a thought! I may have to look into this.
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