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Well, 2009 is coming to and end and you may be looking toward the next few months as you prepare your 2009 tax return. If you own a small business, you may also be looking for some last minute tax deductions. Have you considered pre-paying some of your business expenses in advance before the end of the year to get them on the books and listed as a 2009 business expense?
This might be a great time to:
1. Pre-pay professional membership fees.
2. Renew professional licenses which are set to expire soon.
3. Purchase postage and mailing supplies for the coming year.
4. Purchase ink, toner, paper and other supplies for your home office.
5. Purchase equipment such as a new printer, fax machine, phone system or computer.
6. Pre-pay for webhosting fees for 2010 and beyond….I recommend Dreamhost.
7. Renew some domains set to expire soon.
I’m not a tax professional, so of course you will want to run these ideas by someone and do your own due diligence, but some of these ideas might help lower your tax liability for 2009 and get you off to a great start with some pre-paid expenses for 2010!
p.s. Some of these ideas may save you more than just on taxes….consider that some advertising packages and webhosting companies may also extend you a discount for pre-paying your account in advance. The hosting company I use, Dreamhost, offers a substantial discount when paying one year and even two years in advance. For more information, click here to visit my Dreamhost Promo Codes page with all of the details about this promotion.
Resource Links:
Amazon.Com Printers and Ink Deals (free shipping on most orders $25+)
Amazon.Com Office Supplies Deals (free shipping on most orders $25+)
Amazon.Com Tax Software Deals (free shipping on most orders $25+)
