More than most likely, when the first of the year arrives it can bring a slight amount of unwanted stress if you're a small business owner. The reason is because tax time is gearing up and you'll want to make sure that you have all of your ducks in a row to properly file taxes. Because there are several things to consider when filing, along with the paperwork needed to crunch numbers accurately, it's may be wise to leave it to the professionals.
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Doing your taxes? Don't overlook the many ways your vehicle can help reduce your tax bill. Depending on your situation, properly claiming and deducting vehicle usage can be very helpful during tax time. How?
Deductible Taxes
If you itemize deductions, be sure to include the taxes paid to register or renew your vehicles. There are two caveats, though. First, only taxes are deductible on the Schedule A; don't include fees paid.
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