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Plus, starting this week, bonus tips in the Daily Tax Tips weekly roundup

Tax tips for the self-employed small business owner

Answers like these are why I so love Jeopardy.

Jeopardy self-employed answer

The correct question is, of course, "What is self-employed?"

I really wish Alex Trebek would have accepted the total tax response, "Who gets 1099 forms?" But I suspect contract killers and those who hire them don't want any paper trail.

We sole proprietors and freelancers with less criminal leanings, however, have piles of 1099s. And with the tax-filing deadline less than two weeks away, it's a good time to offer my fellow small business owners some tax tips on that and other facts of independent contractor life.

Not being one to reinvent the wheel -- plus already running behind at the start of this new month -- I beg your indulgence in my decision to simply direct you to some previous articles and blog posts you might find useful.

I'm sure all y'all know of the importance in a small business of working smarter, not harder. So here goes.

Business travel and mileage
Most business folks spend time on the road. We're heading to conferences. We're going to client meetings. We're off to the office supply store to pick up a few items. There are tax breaks associated with all these outings. 

Working from home
When you aren't on the road for business reasons, you're at your office. For many self-employed folks, that's an office in your house or apartment. Your exclusive and regularly used office space can provide a good tax break, as long as you follow the Internal Revenue Service rules.

Other business expenses
Then there's the stuff that's in your home office. Furniture. Phones. Computers. Here are ways to determine what you can deduct and how to convince the tax man of the write-offs in case he ever asks.

Miscellaneous administrative tax stuff
Finally, there always are myriad miscellaneous tasks that don't fall into a neat category, but which must be taken care of for both business and tax reasons. Here are some that could affect your eventual self-employment tax bill.

That should keep all us small biz bosses busy through April 15. But hopefully, the work will help us run more profitable enterprises while paying the least possible amount to Uncle Sam.


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Thanks for sharing these links of tips for small business owners when dealing with taxes. Very helpful information!

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