A LOT of deductions

Car mileage
Cable, cell phone, home office,furniture, computer,
Travel (Per Diem, for example, Beijing is $300+ /day/person + airline costs)
Books, magazines,
tax/accountant fee
Meals Entertainment
Parking/Toll
If your child is 8+, pay him/her directly and deduct
if you have income, contribute to Solo 401K, up to $44,000 a year/person
Big items depreciation (section 179)
Open a S corp, pay less salary and save on self employment tax (15%)
More income, setup a Cash Balance Pension fund, can contribute around $100,000 (not sure about the exact number)

I am actually in a home business, which enables me to deduct a lot, yet the yearly expanse is only around $1500.

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• nice! -havingfun- ♀ (22 bytes) () 04/09/2010 postreply 14:57:41