Ebiz Tax Tips - Tax Tips for eBay Sellers, Online Business and Other Small Business Owners » internet business tax http://internetbiztaxtips.com Tax Tips for eBay Sellers, Online Business and Other Small Business Owners Sat, 12 Dec 2009 21:12:57 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The Tax Q&A Teleclass Recording is Ready! http://internetbiztaxtips.com/2008/12/the-tax-qa-teleclass-recording-is-ready/ http://internetbiztaxtips.com/2008/12/the-tax-qa-teleclass-recording-is-ready/#comments Sun, 21 Dec 2008 16:01:03 +0000 Kristine http://internetbiztaxtips.com/?p=323 j04338611We had a great Tax Q&A Teleclass on Thursday (Dec 18).  Thanks to everyone for your great questions!

If you missed the teleclass, you can grab a copy of the recording here.

Also, thanks to Cara of TheHouseholdHelper.com for helping out with this teleclass!

Don’t forget to sign up for Cara’s ‘How To Get Organized In 2009 – Your Questions Answered’ teleclass on Tuesday, December 30th, where Cara will answer your questions about getting organized in the New Year, such as:

  • How do I keep my house organized?
  • How do I get my family involved?
  • How do I balance work, home & family?
  • And much more…

Have a great week!

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]]> http://internetbiztaxtips.com/2008/12/the-tax-qa-teleclass-recording-is-ready/feed/ 0 IM Courses May Be Tax Deductible http://internetbiztaxtips.com/2008/07/im-courses-may-be-tax-deductible/ http://internetbiztaxtips.com/2008/07/im-courses-may-be-tax-deductible/#comments Tue, 15 Jul 2008 17:46:07 +0000 Kristine http://internetbiztaxtips.com/?p=124 If you’re an online business owner, you’ve probably noticed a LOT of product launches this year.

Many of us are on a budget, and struggled with the decision to purchase a product, even if it was something we really needed to grow our business.

Well, don’t forget that ordinary and necessary business expenses – including courses that you take, or course materials that you purchase for your business – are tax deductible.  Keep in mind, it does need to be business related, but if it helps you learn your business, or if it helps you market your business, then it is probably a deductible expense.

Which means that the $400 product you’ve got your eye on may only cost you $250-350 after taxes, depending on what tax bracket you are in.

Let me give you an example: let’s say you are in the 15% tax bracket and you operate your business as a sole proprietor.  Your total tax percentage is approximately 35% (15% Federal tax + 15.3% self employment tax + 5% state income tax).

When you purchase an item for your business that is tax deductible, you’ll get approximately 35% back in tax deductions, meaning a $400 product will cost you only $260 after taxes.

So if you’re got your eye on a marketing course, or the latest and greatest product that is being launched, and you’re only objection is the price, don’t forget about the tax benefits of being a small business owner.  You may be able to afford that new info-product that’s being launched today after all ;)

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