Comments on: 9 Tax Tips for Self-Employed Folks Like Me http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/ WealthPilgrim.com -No Money Worries. No Matter What. Tue, 15 May 2012 03:52:59 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: James http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/#comment-4591 James Thu, 22 Apr 2010 16:57:17 +0000 http://wealthpilgrim.com/?p=14009#comment-4591 i am self employed too. thanks for the tips i have an accountant who helps me out but it always pays to have some background information yourself. knowledge is power i am self employed too. thanks for the tips i have an accountant who helps me out but it always pays to have some background information yourself.

knowledge is power

]]> By: Financial Samurai http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/#comment-4497 Financial Samurai Fri, 16 Apr 2010 03:52:21 +0000 http://wealthpilgrim.com/?p=14009#comment-4497 Sounds good man! I'll give it a shot! Journey to small business owner fun here I come! Sounds good man! I’ll give it a shot!

Journey to small business owner fun here I come!

]]> By: Neal@Wealth Pilgrim http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/#comment-4496 Neal@Wealth Pilgrim Fri, 16 Apr 2010 02:28:57 +0000 http://wealthpilgrim.com/?p=14009#comment-4496 Nunzio, I'm with you.....I'll be impressed but if anyone can do it....Sam can! Nunzio,
I’m with you…..I’ll be impressed but if anyone can do it….Sam can!

]]> By: Nunzio Bruno http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/#comment-4495 Nunzio Bruno Fri, 16 Apr 2010 01:17:13 +0000 http://wealthpilgrim.com/?p=14009#comment-4495 Great guest post! He hit some very valid and often overlooked points. I'm sure you're like me Neal and travel a bit for clients or speaking venues and keeping track of what you spend on the road is a great way to take a little bite out of that tax liability. I also keep track of mileage used for business purposes, it's not much but it adds up. As for @Financial Samurai if you could evidence that the "firm" has ownership of the pet than it might make for a some extra umph in case you get audited, don't forget about what it costs annually to maintain the pet either. If that does work I would be thoroughly impressed! Great guest post! He hit some very valid and often overlooked points. I’m sure you’re like me Neal and travel a bit for clients or speaking venues and keeping track of what you spend on the road is a great way to take a little bite out of that tax liability. I also keep track of mileage used for business purposes, it’s not much but it adds up. As for @Financial Samurai if you could evidence that the “firm” has ownership of the pet than it might make for a some extra umph in case you get audited, don’t forget about what it costs annually to maintain the pet either. If that does work I would be thoroughly impressed!

]]> By: Car Negotiation Coach http://wealthpilgrim.com/9-overlooked-tax-tips-and-advice-for-self-employed-folks-like-me/#comment-4480 Car Negotiation Coach Wed, 14 Apr 2010 20:05:07 +0000 http://wealthpilgrim.com/?p=14009#comment-4480 Being self-employed, I learned the hardway about medical deductions. It can be tempting to get a high-deductible low-premium health insurance plan since it's probalby coming out of your own pocket. However, since premiums are deductible and copays and out of pocket expenses are not, consider a slightly higher premium. It's a balance to find the right amount of coverage, but worth putting into a spreadsheet and comparing different plans if you are self-employed. Being self-employed, I learned the hardway about medical deductions. It can be tempting to get a high-deductible low-premium health insurance plan since it’s probalby coming out of your own pocket.

However, since premiums are deductible and copays and out of pocket expenses are not, consider a slightly higher premium. It’s a balance to find the right amount of coverage, but worth putting into a spreadsheet and comparing different plans if you are self-employed.

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