Just an FYI you will need to write off somewhere in the $20,000 range to deteriorate the taxes owing.
You don't need to pay the taxes right now you still have time to save up also note that the goverment can set you up on a payment plan to pay off your owed taxes.
I hate paying taxes however don't get to greedy it could make you be chosen for a "random audit" and be further behind in the end.
Household expenses max 20% should be the business
Work vehicle expenses unless you have two cars 80% to the business max.
Office supplies computer internet phone all that can be strickly business.
Good Luck
Mike
|