Here’s the breakdown on aid to Haiti:
China – $5 million
Russia – one mobile hospital and 20 docs
Hugo Chavez (Venezuela) – one plane
Saudi Arabia nothing
I am a new self employed sole trader (this is my first full tax year of self employment) – I just submitted my tax return via my accountant at H&R block and through her help she has legally helped me reduce my tax bill from more than $1400 to $159.
However some of my expenses were one off and I need to spend more expenses to lower my tax – any suggestions would be great. I am a student and I earn under $20,000 a year through self employment so no big purchases possible.
I was thinking of buying a work mobile phone plan like a $49/month cap and using it for clients only with my personal phone separate.
Any other legal expense tips would be appreciated.
I am a music teacher so relevant suggestions please…
I can not spend on:
Work Car: don’t drive
Computer: Not enough work on computer to make it worthwhile
Uniforms: Don’t need them
Advertising – I work more on a contractor basis.
Music Books: I’ve bought ALOT of music books already
If say I offered to service students’ instruments for free (usual charge in a store is around $12-$15), can that be like a ‘giving away services for free’ rather like a donation, and would that lower my tax bill?
Any other helpful suggestions welcome!
Thanks…
