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About Wayne M. Davies

Wayne M. Davies is author of 3 tax-slashing eBooks for small business owners and the self-employed. For a free copy of Wayne's 25-page report, "How To Instantly Double Your Deductions" visit http://www.YouSaveOnTaxes.com
How To Avoid Double Taxation Of Your Small Business Profits
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Have you been thinking about incorporating your small business or self-employment activity? The advantages are many!

When Is The Best Time To Incorporate Your Small Business?

If you’re a sole proprietor, perhaps you’ve considered incorporating your small business or self-employment activity.

IRS Penalties, Interest and ‘Love Letters’

Sorry to crash your party, but as we bring in the New Year, it’s also time to bring in a New Tax Season.

Waiting to Incorporate: What A Difference A Date Can Make

If you’re a sole proprietor, perhaps you’ve considered incorporating your small business or self-employment activity.

The Quagmire of Depreciation

If you are a Small Business Owner or Self-Employed Person, there’s one especially lucrative tax break that not only puts money in your pocket, it also makes the filing of your business tax return much simpler.

Ignoring The IRS (and the 5 best ways to contact them!)

We all love to criticize the IRS, don’t we? And I’m just as guilty as anyone. It’s easy to ridicule a huge organization of government bureaucrats who often seem to be Public Enemy #1.

Double Taxation — Isn’t Once Enough?

Have you been thinking about incorporating your small business or self-employment activity? The advantages are many!

How To Deduct Medical Expenses: A Primer For The Self-Employed
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It’s been said that there are Two Sets of Tax Rules: one for employees and one for the self-employed. When it comes to the deductibility of medical expenses, this is certainly the case.

Tax Filing 101: Procrastinators of the World, Unite!

For all you procrastinators out there, here’s a nuts ‘n bolts guide on how to legally postpone the filing of your Year 2003 income tax returns.

How To Drive The IRS Crazy

Looking for an easy way to increase your business deductions? Look no further than your driveway.

How To Turn Your Bookkeeping Nightmare Into A Money-Maker

For most self-employed people, bookkeeping is about as much fun as a root canal. But like it or not, it must be done, otherwise you’ll end up overpaying your taxes big time.

How To Make Sure 2004 Is A Happy New (Tax) Year

Sorry to crash your party, but as we bring in the New Year, it’s also time to bring in a New Tax Season.

How To Move From Unlimited Liability to Limited Liability

For the small business owner or self-employed person, both the Sole Proprietorship and the General Partnership put you in the world of Unlimited Liability.

The 37 Cent Mistake

When it comes to filing your tax return, spending 37 cents could be the biggest mistake you ever make.

How To Fire A Customer

It must be Tax Season. How do I know?

I’m swamped with work.

And I just fired a client. Again.

Tax Tidbit #2: How To Get A $1,000 Refund By Filing An Amended Tax Return

Short but sweet tax nuggets for the Small Biz Owner and/or Self-Employed Person, each morsel serving up a specific tax reduction strategy guaranteed to tickle your monetary taste-buds.

How To Avoid Paying Too Much Estimated Tax

Many self-employed people and small business owners make quarterly estimated tax payments at both the federal and state level. (Sigh!)

Reporting Your Depreciable Property

Hi Wayne: Can I ask you for one more piece of advice? (Two parter)(all on Schedule C)

I bought several hard drives/ls-120 drives/ram chips/2 monitors/extra Keyboards/Mice, etc.; all for backups (The “What-If?!” stuff)…

Deducting Your Next Vehicle Purchase

I have two related quesitons about the section 179 code on deducting a vehicle purchase for my business. First, do I have to be incorporated? And second, does the vehicle have to be registered in the namy of a company, or can it be registered in my name (as a sole proprietor)?

Got Kids? IRS Wants You to Celebrate Christmas in July

You may find this hard to believe, but if you have children under age 17, you may receive a check from the IRS this summer. No kidding!

How to Let the IRS Pay for Your Kids’ Summer Camp

With summer day-camp season upon us, here’s a way to let Uncle Sam pick up the tab for your children’s fun. Many parents take advantage of the child daycare credit. Well, this same credit can also be used for summer day-camp expenses.

New Tax Law Turns Small Biz Loophole Into A Crater!

In case you were too busy over Memorial Day to notice, our beloved politicians just passed another tax bill designed to put more dollars in your pocket.

The Shocking Tax Benefits Of Section 179

Hi Wayne: What can you tell me about Section 179? I own a small business and have heard that I can obtain a substantial tax benefit by purchasing a new vehicle. I was told that to obtain the most benefit I should purchase a vehicle with at least 6000 lb. Gross Vehicle Weight. How much benefit could I expect and do I have to maintain ownership for any specific length of time? If I purchase late in the year can I still utilize the deduction? Is there anything I should be aware of that could bite me if I’m not careful?

Turning Personal Loans Into Business Payoff

Hi. My husband and I started a business and incorporated it Jan 24, 2001. We are a custom software development company. When we began, we used our own money to buy computers and other office needs, then, when we moved into a commercial office space in October of 2002, we took out loans in our own (personal) names using our own credit to fund the business moving into an office space and all the expenditures associated with this move (like office furniture, etc.). The reason we took out personal loans (and used personal credit cards) was that the business had no credit itself and we were really sure that neither a bank loan nor a credit card in the business’ name would be possible at that stage. Is there any way we can deal with the company paying off these debts? And how can we deal with this odd situation to minimize both business taxes and our personal taxes? And how can we re-seal the corporate veil, so to speak?