Hip, Hop and Henry have a brilliant business idea: multi-lingual ballet shoes that guide the dancer in Russian, French and English. They do well, then a disgruntled Hop announces he is skipping out to start a similar enterprise, and wants his money and equipment back. The new business has no cash and their records on
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I get asked this a lot. Actually, yes — as long it is doctor-prescribed. (The lodging is on your own.) Clarinet lessons — Deductible “if advised by dentist for treatment of tooth defects”. (But tooth whitening to reverse discoloration — nope, this is cosmetic.) Wigs — Yes, “if doctor has advised as essential to mental
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YOUR FAQ: Can I deduct volunteer time as a charitable expense? No. Charitable contributions must be tangible and measurable — money, securities, art, real estate. You can deduct mileage and unreimbursed expenses under some circumstances. Read more here: Okay, I build boats for a living and this guy named Gilligan jumped ship and stiffed me.
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Don’t leave money on the table. Lost in the hubbub about the error-plagued website roll-out: There have been lucrative tax credits available to very small businesses and non-profits since 2010. And they are about to get more lucrative. How lucrative? For 2013, up to 35% of the premiums you paid for your employees. For 2014,
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