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Simply gather
information about sale, invoice you submitted to customer, and documentation of your attempts to collect amount owed. You do not have to file bad debt deductions in same year they occurred, so if you have old losses, gather information now so you can include it on your 2002 return.
Travel
Almost any trip can become a business trip if you plan it right. Even if you're traveling to your 20-year high school reunion, you can write off your travel expenses IF you play your cards right.
While mingling with your old chums, collect some business cards, and hand out a few of your own. Ask people what they do for a living (in tax talk that relates to "market research"), and set up a phone call or two for when you return home.
I know one woman who took a pleasure trip to England. However, while she was there, she took tons of pictures of museums, landscapes, etc. She gathered brochures and picked up some information from a few local vendors. She used these things to justify her trip as business travel for her set design (theater) company.
No, you don't have to spend entire trip talking/doing business. Just be able to document that you did some business while you were there. You can also take deductions for lodging and meals while you're on your trip so save your receipts!
As you can see, there are many tax deductions available to you. To find out about more, set up a "pre-tax" appointment with your accountant or tax pro. They can give you information on additional tax deductions that might apply to your particular industry. When you add up all small stuff, you can end up with some major tax savings!
Diane C. Hughes * ProBizTips.com
FREE Report: Amazingly Simple (Yet Super Powerful) Ways To Skyrocket Your Sales And Build Your Business Into A Tower of Profits! ==>> http://madmarketer.com/diane
