TAX TIP: SELF-EMPLOYED EDUCATION DEDUCTION (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com (800)790-8574)

The cost of education for self-employed individuals is deductible if the education maintains or improves a skill required for your business. Education expenses are not allowed if the education is required to meet minimum educational requirements of your present business or if the education will qualify you for a new trade or business.

A self-employed welder who takes a course in a new welding method can charge the expense to the business. A self-employed dance teacher who also takes dance lessons can deduct the cost of the business. On the other hand, a store owner who takes a course to become a general contractor cannot deduct the expense.

The education must be directly related to the business you already operate. Taking a course in pottery before opening your pottery shop is not deductible. Any self-employed person can take a course in bookkeeping or taxes or computers and deduct the cost.

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Testimonial:
"My husband lost his job and the IRS was garnishing my wages.
I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

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EMPLOYER-PAID EDUCATION FOR EMPLOYEES (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com (800)790-8574)

Job-Related Education: Employers can deduct, and employees can exclude from their income, the cost of job-related education expenses. If you own your own corporation, you are an employee of the corporation, and this deduction applies to you.

Non-job-related education: Employers can also pay up to $5,250 annually for employee education expenses that are not job related. The payments must be part of a written educational assistance program. If the education involves sports, games, or hobbies, the education must be job related. Payments in excess of $5,250 are considered wages, subject to payroll taxes and income taxes.

If you own your own corporation,non-job-related payments for your own education may be limited; ask you accountant or call us..

Education expenses include tuition, course fees, books, laboratory fees, travel between your business and the class location, and travel expenses while away from home overnight. Overnight travel is subject to some limitations.. contact us

Hope you find this info helpful? comment below..

DO YOU OWE THE IRS AND NEED HELP? NEED TO PREPARE AND FILE YOUR CURRENT & PAST DUE TAX RETURNS?

GET TAX RELIEF HELP TODAY!!

Call (800)790-8574 or contact us online today for a free consultation.

Testimonial:
"My husband lost his job and the IRS was garnishing my wages.
I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

ADVANCE TAX RELIEF LLC - We Solve Tax Problems
www.advancetaxrelief.net
www.advancetaxreliefattorneys.com

BBB Accredited Business

‪#‎irshelp‬ ‪#‎taxattorney‬ ‪#‎taxhelp‬ ‪#‎taxrelief‬

***WHEN TO START TAX PLANNING (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com)

People often wait until December to start thinking about ways to reduce their taxes for the year. If you really want to save some cash, start planning no later than the beginning of the fourth quarter of the year, that is, October. But earlier in the year is usually better. For example, the best time to establish and contribute to tax-deferred accounts is at the beginning of the year, because you'll get a whole year's worth of tax deferred income.

For more tax tips and advice like our page. We appreciate your comments below...

Have tax problems? Contact us!

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FRUSTRATED BY AN IRS WAGE GARNISHMENT? Get Help! (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com (800)790-8574)

FRUSTRATED BY AN IRS WAGE GARNISHMENT?

Get a FULL paycheck and end IRS collections once and for all!
Call us for a free consultation (657)777-2084 
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When the IRS or state has failed repeatedly to collect back taxes from individuals, they begin to seize assets. One of the assets that can be attached, and by far considered one of the most crippling, is a wage garnishment. After providing either ten, thirty or sixty day notice through certified mail, the IRS will send a notice to your employer forcing them to withhold up to 75% of your earnings to help satisfy the tax debt.

Wage garnishments are by far the most humiliating of all collection tactics, as they reveal your private financial burden to your employer and, in some instances, to your fellow co-workers. This means added work for your employer to fulfill it’s obligation to the appropriate tax authority, possible increased tension between taxpayer and employer, and can greatly impact job performance as it can create undo stress for the taxpayer.A wage garnishment can be lifted fast!

Don’t live another day with a wage garnishment when you don’t have to! Our staff of tax attorneys, Ex IRS Agents and tax professionals can quickly intercede to come between you and the IRS, to stop wage garnishments and resolve or settle your tax debt.

Don't wait for a wage garnishment before calling us!!
Contact us for a free consultation (657)777-2084

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IF YOU DON’T QUALIFY FOR THE HOME SALE EXCLUSION (ADVANCE TAX RELIEF LLC www.advancetaxrelief.com (800)790-8574)

If you don’t qualify for the home sale exclusion at all, you’ll have to pay tax on all the gain from the sale of your home. If you owned the home for at least one year, you’ll at least qualify for the long term capital gains rate, which is currently 15% for most taxpayers.

If you owned the property for less than one year, you’ll have to pay tax at the short-term capital gains rate, which is the same rate as for ordinary income-up to 35%, depending on your tax brackets. Ouch.

If selling means a huge tax bill, you may want to think about a possible alternative. For example, you could convert the home into a rental property and either hold onto it or exchange it for another rental property.

DO YOU HAVE TAX PROBLEMS OR NEED HELP PREPARING CURRENT AND PAST DUE TAX RETURNS? GET HELP!

Call us for your free tax relief consultation (800)790-8574
or contact us via web: www.advancetaxrelief.net

"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

ADVANCE TAX RELIEF LLC - We Solve Tax Problems.
www.advancetaxrelief.net
(800)790-8574
Twitter: @IRSTAXPRO

BBB Accredited Business