Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

A Helping Hand at Tax Time

Micro-business owners and the self-employed manage every aspect of their business themselves — including doing the business’ taxes. With all the tax forms, deduction qualifications, and exceptions to the rules, entrepreneurs need all the help they can get in filing taxes.

So here are some tax strategies for micro-business owners and the self-employed:

1. Consider a home-office deduction, which would allow the micro-business owner to deduct a portion of mortgage interest, real estate taxes, automobile expenses, and expenses from maintaining the home office.

2. Create a medical reimbursement plan, which would enable the business to reimburse the employee for all out-of-pocket medical expenses.

3. Employ your children, allowing for a business deduction. Dependents can also earn up to $4,700 without paying taxes.

4. Take a close look at what incorporating would mean for the business’s tax position — it doesn’t always help.

5. Research retirement plans designed specifically for the self-employed, including an IRA, SIMPLE, SEP, and Keogh plan.

Robert Hughes


National Association for the Self-Employed

Grapevine, Tex.

blog comments powered by Disqus