For a small business, is operating capital tax deductible?
931437
The cost of the items purchased would be deductible, offset against income.
592885
Depends on how many dependants and how much you write off as business expense.  Tax is typically 1/3
15065
as an individual, it is unfavorable to get a tax deduction on premiums paid since the death benefit will then be taxable once the insured dies.\n\nit is possible through a C Corporation though to carve out a group term life insurance program where the insurance premiums will be 100% deductible to the business.
55765
i do taxes. and as far as i know you cant. and i dont see how you could do it for business and to my knowledge there are no forms to put that on if you did find a way to do it for business. sorry.
714787
No. It is considered as capital receipt & no tax is levied on receipt of the maturity value.
690890
The office(garage), if you use a computer for the bills of the company-the cost of the computer plus any programs that you buy for the business use. Clothes, that you buy to wear while you travel (obviously you can't write off any designer clothes :) )\nGas, meals, lodging, any navigation system that you use when you travel with the trucks... the list can go on and on.  I am myself an accountant and I am familiar with this but you really have to contact a local accountant.  Have him/her help you with the set-up of your business and to explain to you in more detail what is a write-off.  Another suggestion-have you thought about incorporating?  An S-copr can give you a OT of benefits, of which the biggest one is separate legal entity (if your business goes down or someone is suing you they can not go after your personal assets, such as your house, personal car, etc.)  Talk to your accountant for that.
99010
I'm not sure but i think operating and financing are 2 different categories.  the difference i think is that operating are expenses related to assets.
658880
Assuming you're referring to deductions that can be claimed on an individual return (as opposed to a business return)...\n\nBelow is a list of helpful publications from the IRS.  These publications do include examples of items that are deductible, however keep in mind the IRS is great at telling you what you what is not deductible - in other words their advice is not "aggressive" when it comes to deductions.\n\nForm 1040, Schedule A (Itemized Deductions) -  http://www.irs.gov/pub/irs-pdf/f1040sab.pdf\n\nInstructions to Schedule A - http://www.irs.gov/pub/irs-pdf/i1040sa.pdf\n\nAdditional Guidance on Deductions for Medical Expenses - http://www.irs.gov/pub/irs-pdf/p502.pdf\n\nDeductions for Mortgage Interest - http://www.irs.gov/pub/irs-pdf/p936.pdf\n\nDeductions for Investment Interest - http://www.irs.gov/pub/irs-pdf/p550.pdf\n\nDeductions for Charitable Contributions - http://www.irs.gov/pub/irs-pdf/p526.pdf\n\nDeductions for Casualty & Theft Losses - http://www.irs.gov/pub/irs-pdf/p547.pdf\n\nDeductions for Job Expenses & Other Miscellaneous Deductions - Unreimbursed http://www.irs.gov/pub/irs-pdf/p529.pdf
1084132
Depends if it has appreciated in value and if you are selling it.  If yes to both of those, then yes (unless you can offset it by capital losses).
768044
No service tax is applicable as it is not in the list of notified taxable services.\nIncome tax will be applicable if after all business expenditure; you have income above and over exemption to taxable limit
1180187
Florida has some quite beneficial structures for businesses. As well as a healthy, pro-business tax structure, Florida is also a "right-to-work" state. This has a few nice benefits on the actual operational overhead issues if you are going to have any sort of staff.\n\nI am not certain if you are looking at full incorporation or an LLC structure, but there is a nice little FAQ on both for Florida here:\nCorporations:\nhttp://www.floridaincorporationservice.com/pages/corporation_faq.aspx\nLLCs:\nhttp://www.floridaincorporationservice.com/pages/llc_faq.aspx
597227
did you use the interest and taxes as deductions in the past (you should not have technically)\n\non non personal property (you did not live there) that is not (has not) generated income the interest and taxes are added to the base cost of the property (this will help reduce your gain; it is not a capital gain though)\n\na property that is purchased to be sold and not rented is treated the same way as inventory would be treated (you pay income tax, it is not a capital gain)\n\nif you have a loss it is applied against your income to reduce your taxable income\n\n\n\nTaxation – Lesson 7\nCMA Canada - July 2004 Page 31\nBusiness income versus capital gain\nIn most cases, a business is readily identifiable by the nature of its activities. For example, the manufacture and development of computer chips for resale would constitute\na business. Sometimes, however, it is difficult to distinguish whether income from a transaction is business in nature or capital gain. The sale of land can be either a capital transaction or a business income transaction depending on the facts of the circumstances.\nThe distinction is important because, as you will see, business income is fully taxed whereas only one-half of capital gains are taxed. Moreover, business losses can be\napplied against all other sources of income (e.g. capital gains or employment income), whereas capital losses are only available for offset against capital gains. Business income\nis taxed less favorably while business losses are treated more preferentially. The full amount of business income is taxed in the year that it is earned while only one half of\ncapital gains are taxable, in the year in which the gain is realized. Business losses, unlike that of capital losses, can be used to offset income from all other sources.\nThe chief factor in distinguishing a business activity from a capital gain transaction is the intended use of the property on acquisition. The principal reason for the purchase and the subsequent use of the property will determine the type of income of the profit (loss)\ngenerated upon sale. If the property was acquired for the purpose of resale, then its disposition is likely business income. i.e. if the property purchased is considered\ninventory, then all profits triggered upon sale would be considered business income.\nConversely, property acquired for the purpose of providing the owner a long-term benefit is likely capital property; its disposition creates a capital gain or loss, i.e. any gains generated upon the sale of capital assets used in the course of running a business are deemed to be capital gains.
292581
IRS.GOV look under pub 557 that is Tax-exempt status for your business. That might help.
1108740
It does not matter when you purchased it. You converted it from personal use to business use in 2006. Therefore, when deducting it as a business expense, you can only deduct it's fair market value at the time you converted it to business use, which had better be less than what you paid for it (since CPUs go down in price rather quickly). Be ready to prove the deduction in case IRS decides to check you out.\n\nAs mentioned above, you can use Section 179. All in all, unless you plan to hire a taxman, you should get acquainted with the IRS website and relevant publications.
294999
Yes, but only if services are actually rendered.  Depending on the corporate structure (i.e., if it's a partnership, sole proprietorship or LLC taxed as a proprietorship or partnership) the person will be subject to self-employment tax of I believe 15.3%.  Talk to a CPA.
175727
Do you use your cable for personal use or for only educational use?  If you use it for personal use, I wouldn't even bother.  It will be too much of a pain to explain to the IRS.  And, you would have to apportion personal vs. business use.\n\nHowever, if you only use it for educational use, then you could deduct it on your Schedule A if you itemize deductions as a deduction to 2% of your AGI.
987168
Yeah, but if you also use it for personal use, you can't make the car expense a total business deduction.  Let's say you use the car 20% for personal use.  You might have to say 80% is a business expense and 20% is for personal use.  \n\nCheck with an accountant b/c you can get in a lot of trouble for evading taxes if you don't know for sure.