Castro Valley Tax Services:




Home
Contact us
Enter Main Site Here
Add to Favorites
 
Local Tax Services Centers:

Seven common small business tax deductions:

1. Employee Benefit Plans - You may deduct contributions to employee benefit plans (such as health insurance plans and retirement plans). Depending on your circumstances the maximum contribution that you may deduct per employee in a qualified retirement plan can go up to:

$100,000 or more For a Defined Benefit Plan
$44,000 For a 401(k) plan
$41,000 For a SEP-IRA or Keogh

2. Automobile Expenses? You can elect to deduct the actual expenses incurred (including gas, oil, tires, repairs, insurance, depreciation, and rent or lease payments) for the business-related portion of your car or truck expenses, or simply take the 2004 standard mileage rate of 37.5 cents per business mile.

3. Taxes - You may deduct Social Security and Medicaid taxes paid to match required withholdings on employee wages, federal unemployment taxes, sales taxes and real estate or personal property taxes paid on business assets.

4. Home Office - Depending on whether you use your home or other real estate for business purposes, you may deduct some or all of any mortgage interest paid, as well as some or all of the maintenance and repair expenses associated with the property. The cost of utilities and business supplies associated with business use are also deductible.

5. Depreciation ? Depreciation may be taken on passenger cars, equipment used for entertainment or recreational purposes (i.e., photographic equipment, cell phones and computers), as long as these items are used solely for the business.

6. Professional Fees - You may deduct professional fees, such as those paid to a lawyer or accountant.

7. Meals and Entertainment - You may deduct 50 percent of meal and entertainment expenses directly associated with the conduct of your business Remember to keep on file the records and documentation necessary to substantiate all of your deductions.

Local Tax Services Centers:

Anderson Tax Services
21855 Redwood Rd
Castro Valley, CA 94546
510-733-9829

Bedeger's Tax Services
22195 Redwood Rd
Castro Valley, CA 94546
510-537-7112

Beutler & Associates
20211 Patio Dr #145
Castro Valley, CA 94546
510-582-2557

BottonLine Tax Service
3551 Castro Valley Blvd
Castro Valley, CA 94546
510-537-0829

Dempsey R E & Associates
21709 Redwood Rd
Castro Valley, CA 94546
510-538-0309

Don & Linda's Tax Services
20661 Santa Maria Ave
Castro Valley, CA 94546
510-889-9135



Information | Adult School | Apartments | Attorneys | Banks | BART | Beauty Salons | Bowling | Child Care | Churches | Dentist | Florist | Fun Places | Health & Fitness | High School | Hospital | Hotels | Insurance | Local Contact Information | Map | Music | News | Parks | Pizza | Private Schools | Real Estate | Restaurants | School District | Tax Services | Travel | Vets | Weather | Zip Code |

 Castro Valley  by: WebArtCity
Local Castro Valley Resources Page