Five Deductions Your CPA Can Help You Obtain

Filing our taxes can easily be the most exciting, and the most stressful, thing you do all year long. Filing taxes can be fun when you know a refund awaits you on the other side; but it can also be stressful during those times you know you owe thousands in back taxes.

For these two reasons alone, many people refuse to rely on their own expertise and instead opt to hire a CPA. A CPA (which stands for Certified Public Accountant) is equipped with the tools necessary to make sure that you not only file your taxes correctly but that you are getting the tax deductions for which you qualify.

Below are five deductions your CPA can help you obtain:

Charity

Did you donate to charity this year? Did you take a large amount of clothing to the Goodwill? Great news! Your CPA can help you deduct those items from your taxes. Who would’ve ever guessed that your giving heart would get you a tax write-off!

Self-Employed

Are you a business owner? Do you complete freelance work on a consistent basis? You’re in luck. Your status can make you eligible for the self-employed taxes. Your CPA can help you determine what items related to your business can be deducted.

Internet

Believe it or not, a good CPA has the ability to help you deduct internet expenses from your taxes if you use the internet to complete your work for a company that hasn’t paid for the computer you use.

Meals & Entertainment

Are you a business owner who regularly entertains your clients or partners over drinks or a meal? As long as these costs are clearly for business purposes, be sure to keep record of time, place and receipts, and at the end of the year your CPA can help you deduct these costs.

Telephone Charges

Are you constantly plagued with high cell or telephone bills thanks to client calls? Telephone charges are a little known tax deduction that could save your business thousands of dollars at the end of the year.

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