How To Turn Non-Deductible Commuting Mileage Into A Legitimate Business Expense

Written by Wayne M. Davies


Tax Tidbits: Presented by Wayne M. Davies of www.YouSaveOnTaxes.com.

Short but sweet nuggets forrepparttar Small Biz Owner and/or Self-Employed Person, each morsel serving up a specific tax reduction strategy guaranteed to tickle your monetary taste-buds.

The U.S. Tax Code is so big, there's only one way to digest it: one little nibble at a time.

Just like a piece of candy, one small bite of tax knowledge can give you one very delicious deduction!

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Tax Tidbit #1: How To Turn Non-Deductible Commuting Mileage Into A Legitimate Business Expense

-- by Wayne M. Davies

Copyright 2003 Wayne M. Davies Inc.

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For most folks, commuting mileage is a non-deductible expense -- unless you knowrepparttar 112662 little tax trick I'm about to reveal.

The non-deductibility of commuter miles is painfully true forrepparttar 112663 employee who fights rush hour traffic every day, twice a day, for 5 to 10 hours a week.

All that hassle, and what does he have to show for it? Just gas money downrepparttar 112664 drain, not to mentionrepparttar 112665 wear and tear on both his vehicle and his stress-o-meter.

You can deduct virtually all your mileage, includingrepparttar 112666 miles you log from your home torepparttar 112667 office or other place of business, if you meetrepparttar 112668 following two criteria:

1. You are a small business owner or self-employed person, and

2. You have two offices or work locations: one outsiderepparttar 112669 home (Office #1) and one insiderepparttar 112670 home (Office #2).

Having two offices is very common for today's self-employed professional. The store owner,repparttar 112671 shopkeeper,repparttar 112672 salesman,repparttar 112673 plumber,repparttar 112674 consultant -- all these folks are typically self-employed and have two offices: one where they meet withrepparttar 112675 public (Office #1),repparttar 112676 other at home, where they get their paperwork done (Office #2).

How To Get A $1,000 Refund By Filing An Amended Tax Return

Written by Wayne M. Davies


Tax Tidbits: Presented by Wayne M. Davies of www.YouSaveOnTaxes.com.

Short but sweet tax nuggets forrepparttar Small Biz Owner and/or Self-Employed Person, each morsel serving up a specific tax reduction strategy guaranteed to tickle your monetary taste-buds.

The U.S. Tax Code is so big, there's only one way to digest it: one little nibble at a time.

Just like a piece of candy, one small bite of tax knowledge can give you one very delicious deduction!

============================================================

Tax Tidbit #2: How To Get A $1,000 Refund By Filing An Amended Tax Return

-- by Wayne M. Davies

Copyright 2003 Wayne M. Davies Inc.

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Aren't you glad another Tax Season is over?

Ah, yes -- another tax return filed, another tax return "inrepparttar 112661 books."

Well, I've got a pleasant surprise for you.

Did you know you can actually get a refund for a return that you already filed?

Yep, it's true.

If you think you forgot a deduction on a previously filed return, you have three years to tellrepparttar 112662 IRS about it and receive a refund.

Here's how it works: You can file an amended return up to three years afterrepparttar 112663 due date ofrepparttar 112664 return in question.

So, for Year 2002 returns due April 15, 2003 -- you have until April 15, 2006 to file a correction.

For Year 2001 returns due April 15, 2002 -- you have until April 15, 2005 to file a correction.

And for Year 2000 returns due April 15, 2001 -- you have until April 15, 2004 to file a correction.

Nowrepparttar 112665 question becomes: Is it worth it? I mean, do you really want to spendrepparttar 112666 time and energy doing tax paperwork -- and it's not even Tax Season!

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