Hidden Tax Tips for Entrepreneurs

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February 25, 2009
SmallBiz Insider Keep up-to-date with our latest offerings for entrepreneurs and small-business owners

NEWS  THIS WEEK'S TOP STORY Hidden Tax Tips for Entrepreneurs Twenty-five tax deductions you may not have heard of—but should SLIDE SHOW > >

Inside: This Week in SmallBiz No matter how you've structured your business, chances are you're missing plenty of legitimate expenses that you could be taking as tax deductions. It's up to you to find them--and keep records that will show they're reasonable if you get audited. Check out our special package on 25 deductions you might not have considered, as compiled by Bernard Kamoroff, a CPA and author of 422 Tax Deductions for Businesses & Self-Employed Individuals. Then tune in to a podcast interview with Elizabeth Charnock, a Silicon Valley entrepreneur who explains how she started her software company without any outside funding. And catch a column that details how to buy back debt from your bank--at a substantial discount. Finally, learn about a new Web site where contractors name customers who won't pay their bills or are impossible to please. Enjoy! --Nick Leiber SEND FEEDBACK  |  E-MAIL A FRIEND  |  GET RSS  |  NEWSLETTERS

MORE SMALLBIZ NEWS SMART ANSWERS The Stimulus' Key Small Business Tax Provisions Experts who are in the process of familiarizing themselves with the new law explain how it will benefit small companies in terms of tax relief WHAT'S YOUR STORY IDEA Avoid Deadbeat Clients with BusinessBeware.biz Check BusinessBeware.biz, a Web site where contractors share tales of customers who won't pay their bills or are impossible to please BWSMALLBIZ -- CASH FIX Buy Your Loan Back From the Bank Here's how you can negotiate a significant discount on your own debt BWSMALLBIZ -- FINANCING As Credit Dries Up, More Owners Seek Microloans The new candidates for this financing alternative have high credit scores and business track records NEWS ANALYSIS Startups in a Downturn Entrepreneurs who helped build their startups into tech stalwarts—companies like Cisco, Oracle, and Google—share lessons on how to thrive during tough times   SMALLBIZ SLIDE SHOWS SMALL BIZ 25 Unsung Tax Deductions Entrepreneurs and small business owners who ignore these tax deductions are leaving money on the table SPECIAL REPORT: OUTSOURCING Outsourcing Advice from the Pros Consultants that specialize in helping small companies outsource reveal the secrets to building a good outsourcing relationship Fresh Entrepreneurs An ongoing series profiling startups from across the country   SMALLBIZ PODCASTS Bootstrapping a Startup It's not easy to bootstrap a startup, let alone a Silicon Valley software company. But Elizabeth Charnock started Cataphora in 2002 without venture capital or any outside funding, and she believes the experience made her a stronger business leader   SMALLBIZ SPECIAL REPORTS Outsourcing Getting Top Talent Corporate Philanthropy Best U.S. Entrepreneurs 25 and Under Home- Based Business Branding Franchising Raising Capital The ABCs of Business Plans SMALLBIZ  BUSINESS DIRECTORY Need Help? Find experts in your area in: Accounting Advertising and Marketing E-Mail Marketing Legal Services Public Relations Search Engine Marketing Web Design Web Marketing Web Hosting  BW MALL   SPONSORED LINKS Applicant Tracking System  Software for Recruiting, Applicant Tracking, Onboarding, Succession Planning, Performance Management Integrated Desktop Management Software  Affordable Web-based Windows Desktop Management Software for Enterprises. Free Trial Download ! Want to win a free BlackBerry Bold smartphone?  Vote for the BlackBerry and AT&T Top Small Business DOWNLOAD CRYSTAL REPORTS 2008 - FREE  Try a full version of the industry-leading reporting software free for 30 days. Press release distribution from $49  Add images, links, and access to your statistics. Includes search engine optimization. Only $49. Buy a link now! This newsletter is a FREE service provided by BusinessWeek.com. To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page. If you need other assistance, please contact Customer Service or contact: Wanda Cooper BusinessWeek Customer Rights Communications Data Services 1995 G Avenue Red Oak, IA 51566 Phone: 1-800-635-1200 View our corporate privacy policy here. To learn more about how BusinessWeek.com applies this policy, you can contact our Marketing Department. Copyright 2008, by The McGraw-Hill Companies Inc. All rights reserved. Terms of Use | Privacy Notice

BLOG The New Entrepreneur >> We've been offering strategies for dealing with the credit crunch for months. So a recent post on the Huffington Post by Palo Alto Software founder and business guru Tim Berry on the ongoing human impact caught my attention... —Nick Leiber, The New Entrepreneur Visit Our Other Blogs Auto Beat Bangalore Tigers Blogspotting Brand New Day Byte of the Apple Economics Unbound European Insight Fine On Media Games, Inc. GreenBiz Hot Property Investing Insights Management IQ New Technology in Asia NEXT: Innovation Tools & Trends NussbaumOnDesign Tech Beat Working Parents POST YOUR OWN COMMENTS ADVERTISEMENT Get Options Trading Ideas for Major Currencies Get currency options trading ideas with Trading Central's free FX Options Trade Alert. See opportunities as they arise, based on technical analysis. SMART ANSWERS KAREN E. KLEIN >> Protecting Your Personal Assets As an entrepreneur, you've put a lot on the line. So take a few steps to protect your assets if your business should fail or get sued SEND YOUR QUESTIONS TO KAREN >   VIEWPOINT CARMINE GALLO >> Bill Gates: The Great Communicator? Bill Gates has changed his public speaking style dramatically. Here's what you can learn from the Microsoft co-founder MORE CARMINE GALLO COLUMNS >>   Advertisement Today's Tip Leadership When high standards are taken too far, they become counterproductive. Rooted in disappointment that things and people are not as they should be, some level of negativity, stress, and frustration follows... --David Peck, Executive Coach and President, Leadership Unleashed READ MORE >   IN YOUR FACE: SIX SOCIAL MEDIA MYTHS Reader Mike Maney Writes: " Companies should be looking at pricing/commitment in the context of their overall programs rather than siloed campaigns. " Tell Us: How to Calculate ROI on Social Media? >   BusinessWeek has teamed with J.D. Power and Associates to let you compare customer satisfaction and product quality ratings. Automobiles Cable/Satellite Providers Consumer Electronics Copiers Digital Cameras TVs Insurance Auto Insurance Collision Repair (Auto Insurance) Home Insurance Financial Services Full-Service Investing Mortage Service Online Trading Telephone/Wireless All-Distance Phone Providers Wireless Service Internet Service Providers   Advertisement   VIDEO VIEWS >> Made in America Boathouse Sports thinks manufacturing customized sports uniforms and jackets in the U.S. keeps it one step ahead of its competitors     SUBSCRIBE TO BUSINESSWEEK SmallBiz Print Table of Contents Get SmallBiz Free With Your Subscription To BusinessWeek Subscribe Now Customer Service SMALLBIZ FREE ONLINE COURSES Instructor-led classes on the latest topics for registered BusinessWeek users. Sign up now • The Wireless Mobile Office • Designing and Equipping Your Home Office • Setting Up a Wireless Home Network • Start-Up Basics for the First-Time Entrepreneur • Writing a High-Impact Business Plan • Raising Capital for Your Small Business