Hi,
1) I have a full time job as a computer system administrator 2) Rent a 2 bedroom apartment in NY 3) Consulting part time (20-60 hours/month) as a computer system administrator. Majority of the work is remote but once in a while I might go into the office 4) Own a laptop, desktop, printer (previous personal now for consultancy), home phone service (previous personal now for consultancy), cell phone (previous personal now for consultancy), internet connection (previous personal now for consultancy 5) Setup a very small business area in my bedroom (1/4 of the bedroom) 6) S corp was registered in Delaware 7) Setup a business checking account 8) Setup a business credit card for all expensesWhat tax write can I take legally? I am just tired of shady accountants.
Things I am hearing about which need further explanation.
1) I have to subscribe to 2 home phone lines (personal and business). Mitigating circumstances - I don't really use the home phone for personal. Very rarely. 2) I have to count my personal and business minutes on my cell phone each month. This is annoying since most of the calls are for business. 3) Cable modem. Is this a 100% write off? 4) Is 1/4 of 1 bedroom a write off? Any caveats like "primary" source of business, etc? 5) How do I deal with previously owned laptop, desktop, etc? Are these write offs? 6) When do I have to pay my taxes? 7) I gave a gift of $500 to a colleague at the company I am consulting for. This was not a bribe, but just something I wanted to do b/c him and I get along with him very well. I sent this from the new founded business checking account. Is this bad? Is this a tax write off? Do I need a receipt from him? 8) Do I only pay taxes every March? This is what I am hearing from an accountant 9) Anyone know a CPA who can help who is not very expensive? I am not making enough money to warrant a very expensive CPA. 10) If I buy some clothes that I use once in a while for the consultant job, is this a 100% write off? 11) If I donate to charity from my business CC, is this a 100% write off?Kind Regards,
-SN