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I will never, ever do my own taxes. I suck with math and I can't imagine anything more mindnumbingly boring to spend my days at. PLECH! I pay the $300 or so and get H&R Block to do it. There's a specific person at each office who does small business, so I believe he's actually an accountant, not just some guy who took the training to do regular taxes. At any rate, I've only ever owed twice ($1100 each time) over 12 years. Usually though, I get a little back....typically enough to cover the accounting fees.
I can't believe you owe $4000....Holy cow! That can't be right. You can write of EVERYTHING!!! Well, just about. When I buy new furniture, yup, write off. Toys, even for my kids...write off. All groceries (they work out the formula), hydro, heat, gas for the car, car repairs, equipment rented or purchased to maintain the property, flowers in my gardens, new computer (advertising/communication), cell phone and monthly fees, camera, printer ink, internet, netflix....everythin g. I even wrote off my new comforter set. Why not? A couple daycare kids peed and barfed on it, then another pulled a bunch of threads out of it.
My accountant put it well - you can write off anything used for the daycare or even that's in place to make the daycare look appealing to potential or current clients.
Last edited by cfred; 03-06-2013 at 08:53 AM.
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