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5- Phone bills and internet access- If you have a phone line for business use or have internet in your home or office for business use, save all receipts for each bill paid. These items are business expenses and may also be written off.
6- An in home office- If you have an office in your home, make sure to let your tax advisor know. Using a room in your home as an office can also be added on taxes.
7- Long distance calls- If you make any long distance calls that are related to your business, make sure you keep all phone bills showing calls and amounts charged. If these calls are related to your work, cost of calls may also be written off in most cases.
8- Returned Checks and Bank Fees. If you incur and bounced checks from customers and can not collect on them, those amounts may be deducted, along with any fees you were charged from your bank. Be sure to keep returned check, letter from your bank and your bank statement to show fee you were charged.
9- Postage- All postage costs paid by you or shipping fees may be claimed. Keep receipts for all shipping supplies, and postage.
10- Computers- If you purchase a new computer for business use, cost of computer may be claimed. You may also claim depreciation for 3 years after computer was purchased.
Tara Grant, owner of http://www.designbytara.com, http://www.partysuppliesrus.com, & http://www.heronlinenetwork.com. Tara is a warm-hearted entrepreneur, mother of 2 small children and an avid networker in the wahm and parenting communities!