No. of Recommendations: 2
Don't forget that you can deduct a portion of your phone expenses as well. You likely can open some tax deferred IRAs as a small business to reduce the tax bite. Regardless, I would take advantage of every income reducing deduction legally possible.

I would suggest that you have a good accountant help you out for the one year and use his/her ideas for future years. A good accountant can be wonderful in giving advice on deductions. My taxes have just become too complicated for me. I could learn what to do and save the $300 that an accountant will cost me. I keep very good records, which reduces the amount of time needed to complete my taxes, therefore costs. My other option was to learn what I needed at a cost of my time. I don't have the time to learn all the details, but I know that we can depreciate the cost of the vehicle, etc. It's worth my money to hire someone to help me out to save me time and avoid mistakes.

Just my .02.

L
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