Small business tax breaks

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Small business tax breaks
By Bankrate.com

Being your own boss is great. In many cases, there even are tax advantages. Some expenses that were personal now might be allowable business tax deductions. Here's a look at making your business pay off on April 15.

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Before you begin ...
	Confused about what kinds of business taxes you need to keep up with? Here's what the IRS expects. Plus: A new-business tax primer.
	The tax paper trail isn't too bad for a sole proprietor, who can report business income on Schedule C or C-EZ.
	Electronic business filing goes local as more jurisdictions -- and companies -- find the system pays off.
	Smaller companies and sole proprietors may be able to file online for free. Plus: Picking software that fits your filing needs.
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Take a break of two ...
	Check out these 12 money-saving small-business tax deductions.
	Don't depreciate! Write off some equipment costs now with Section 179 expensing. Plus: Timing of purchases affects corporate taxes.
	Bankrate's Small Biz Adviser explains how to make your home office pay off at tax time.
	Tax law changes offer business owners some new breaks.
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Tax strategies ...
	Keeping the tax collector at bay when you're self-employed. Plus: Taxes and the independent contractor.
	Want to get reliable help and tax breaks? Hire your spouse and kids.
	Is your hobby really paying off? It may make tax sense to turn it into a business.
	Take all the business deductions you're entitled to, but don't tempt the tax auditor. Plus: Keep good business records to support your tax claims. And: Filling in business tax-record gaps.
	-- Updated: March 10, 2003