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Larisa Humphrey
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22 followers
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Overpaid Taxes
A whopping 97% of business owners overpay their taxes .
Most business owners do not realize there are many tax strategies that
would reduce their taxes…legally! Wonder where you would be if you had
all the money you paid the IRS & the state in income tax...

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Tax Planning
The
first mistake is failing to plan. Planning is the key to beating the
IRS, legally. I don’t care how good your accountant is with a stack of
receipts on April 15. If you didn’t know you could set up a Section 105
plan and write off your kid’s braces ...

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Mistake Business Owners Make
Not Paying Yourself is the biggest Mistake Business Owners Make.   When you run a business ,
you must deposit ALL business income into your business bank account.
(Please don’t stuff it under your mattress!) You should use this money
to pay your business...

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Delayed Refund
If your federal refund doesn’t arrive in your account on the anticipated date, you will need to contact the IRS to find out what happened. If you filed your return electronically, your should expect your refund in 10-21 days and you must wait at least 72
h...

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Creating a Mileage Log
Protecting Your Mileage Deduction   If you are going to claim a deduction for mileage, you must keep track of the number of miles you drive for business .
Most people don’t do this and try to figure it out at the end of the
year. This is not a good idea. ...

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