List of deductions

[richm23]

I just went from sole prop. to LLC, I am wondering if anybody could help me with a list of items and reciepts that I should keep. SHould everything be bought in the business name?

Ex. Gas receipts
Mileage
insurance cost
What else should I look to keep for taxes?

Thanks

[The landscaper]

I was looking into doing the same thing.
Not to change your thread, but what exactly did you do to switch to the LLC. Just file with the state?

[lawnman_scott]

Paper towels to dry your hands after you wash them when you change oil or grease your mowers. Soap also. And every little thing you buy throughout the year.

[tonygreek]

i say this with extreme sincerity: if you have to ask if you should make all of your business-related purchases through your llc, you really need to see an accountant.

for whatever reason, the mindset of many on this board is to not go through the expense of using an accountant. i would guarantee that a proper tax strategy will more than recoup the costs of the accountant and probably find you thousands more in savings. from my days at andersen (sure, not the best example of quality accounting.... ), the thing that stuck with me was the term "tax avoidance". tax avoidance is 180 degrees different from "tax evasion". why automatically pay something that you don't have to?

tony

[LB1234]

Originally Posted by tonygreek

i say this with extreme sincerity: if you have to ask if you should make all of your business-related purchases through your llc, you really need to see an accountant.tony

Agreeeeeeeeeeeeeeeeeeeeedddddddddddddddddddddd