If you work for yourself and every year your head hurts when you have to declare your taxes, we have some recommendations that you may not know and that you can take into account to reduce your tax burden and save a lot of money.<\/p>\n\n\n\n
Our purpose is that you have more clarity of all the opportunities that you have to be able to grow in your business, prosper and make your dreams come true as an immigrant in the United States.<\/p>\n\n\n\n
At Beetax we will always be by your side to help you and advise you on whatever you need.<\/p>\n\n\n\n
To begin with, it is important that you first have detailed all those ordinary and necessary expenses for the operation of your business. Remember, clear accounts will become your allies when deducting taxes.<\/p>\n\n\n\n
Don't underestimate this deduction! You can declare the number of miles you travel when you travel from one place to another to do your job. Believe us, if you do the math you'd be surprised, so it's important that you keep an exact record. <\/p>\n\n\n\n
One clarification: The trips that a regular employee would make from home to the workplace do not count; but if, as an independent worker, you have to go out in your car to see a client or provide your services in other places, if you could declare each mile and, even, the parking and toll expenses in the deduction of your taxes.<\/p>\n\n\n\n
The registration will not be a problem if you are organized, some help could be some mobile applications that do this registration for you, it is just looking for the one that best suits your needs and device. If technology is not your thing, you can look for manual aids such as Mileage Log Books <\/em>or mileage log books that you can find in physical stores or on Amazon or eBay.<\/p>\n\n\n\n A freelancer who has to travel from one city to another to perform a job, such as a photographer who is asked to go to another state or city to cover an event, can also include their expenses in the tax deduction.<\/p>\n\n\n\n If this is your case, you can include your expenses in detail (100% deductible), such as plane tickets, lodging during your work time, food, provided it is provided by a restaurant, and other payments incurred in your work in that place . <\/p>\n\n\n\n As we understand that you may want to take advantage and do some leisure and fun activities during your trip (not everything is work), we remind you that you cannot include these personal expenses. This will be something that, without a doubt, you can enjoy but not deduct.<\/p>\n\n\n\n If you are lucky enough to live the dream of many, such as working from home, you can take advantage of this situation and save a lot of money in taxes.<\/p>\n\n\n\n If you officially and constantly use your house as the office of your business, you can deduct the expenses incurred in the maintenance of the house, such as repairs and\/or remodeling, as well as the expenses of public services, property insurance, mortgages, rent, if applicable, and property taxes.<\/p>\n\n\n\n You must bear in mind that the deductions will be proportional to the area destined for your work; that is, the percentage represented by the square meters that your office occupies over the total area of your house. From there will come the deduction of a part of the housing expenses.<\/p>\n\n\n\n Capital expenses are simply the expenses that you make in the purchase of some item that will help you in carrying out your work; that is, the tool that guarantees the fulfillment of your work and the operation of your business.<\/p>\n\n\n\n What expenses can fall into this category? If you're a gardener and need a mower, that purchase may be a capital expense; or if you are an electrician, you can deduct the expenses in the purchase of your tweezers, pliers, scissors and other necessary tools. Also, if you need a computer, a desk, or even a car to do your job, you can deduct the expenses on your tax return.<\/p>\n\n\n\n It is important that you specify what you bought and, of course, the money invested, so that you can benefit from this tax deduction.<\/p>\n\n\n\n Another option that we recommend is to hire people part time<\/em> to help you in some tasks of your business. For this particular case, your children are the perfect candidates! They can help you with cleaning, answering calls, messaging or addresses, among other functions that you consider necessary. <\/p>\n\n\n\n As the owner of your business, you can deduct their salaries on Schedule C, as long as the remuneration is commensurate with the work done. If your children are under 18, the wages you pay them will be exempt from Social Security and Medicare taxes. Also, keep in mind that your family's overall tax burden will not increase with your children's income, as these wages may not be taxed.<\/p>\n\n\n\n Remember that you are not alone! Just like you, there are many Hispanics who fight every day for their dreams, facing great challenges and looking for smart solutions to prosper and succeed here in the United States.<\/p>\n\n\n\n If you have questions, do not hesitate to contact us and we can gladly expand this topic to get the most out of your tax deduction. We will be happy to support you in your venture!<\/p>","protected":false},"excerpt":{"rendered":" Si trabajas por tu cuenta y cada a\u00f1o te duele la cabeza cuando te toca declarar tus impuestos, te tenemos<\/p>","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1895","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/posts\/1895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/comments?post=1895"}],"version-history":[{"count":6,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/posts\/1895\/revisions"}],"predecessor-version":[{"id":1913,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/posts\/1895\/revisions\/1913"}],"wp:attachment":[{"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/media?parent=1895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/categories?post=1895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beetaxnc.com\/en\/wp-json\/wp\/v2\/tags?post=1895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}2. BUSINESS TRAVEL, A SAVING\u00a0<\/strong><\/h3>\n\n\n\n
3. YOUR HOME, YOUR OFFICE<\/strong><\/h3>\n\n\n\n
4. CAPITAL EXPENDITURES<\/strong><\/h3>\n\n\n\n
5. HIRE PART-TIME<\/strong><\/h3>\n\n\n\n