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by Kathy Johnson, CPA
I make $95,000 a year and have nothing to write off on my income taxes. If I start a door-to-door sales business with expected revenue of $500 a month, will I be able to deduct anything?
Everyone can take the standard deduction on their income taxes. You can deduct your taxable business expenses from your door-to-door sales business. These may include product expenses, mileage and phone. Before you start a business, I suggest you consult with a CPA, who can help you decide if pursuing a door-to-door sales business is worth your time and cost. I also suggest you review IRS Publication 535, which explains common business expenses and what is and is not deductible.
Kathy Johnson is a San Bernardino CPA and owner of CPA Forensics Plus. You can reach her at (909) 889-8819 or firstname.lastname@example.org.
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