Seven Key Tax Deductions for the Self Employed
Author: Daniel Lamaute
As a sole proprietor, it's wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.
Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions.
Seven common small business tax deductions:
1. Employee Benefit Plans - You may deduct contributions to employee benefit plans (such as health insurance plans and retirement plans). Depending on your circumstances the maximum contribution that you may deduct per employee...
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