How to Make Business Deductions Out of Your Personal Expenses Part 4

<p> Part 4 of Shifting Personal Expenses into Business Deductions will show you two more tax deductions that can save you tons of money. <p/>

<h2> Meetings Followed By Entertainment <h2/>

<p> The majority of the population does not know about this deduction.  If you and one of your buddies enjoy playing golf it can be written off as long as you talk about business while you are out.  Generally you are not allowed to deduct the cost of season tickets.  But, if a meeting is held before each game then the tickets can be fully deducted.  This also applies to any other types of entertainment. <p/>

<h2> Children <h2/>

<p> Getting your children involved in the business at a young age can be a great learning experience for them.  It will teach them important life lessons and instill a good work ethic that they will keep for the rest of their lives.  This is also a great opportunity for your business to take another tax deduction.  <p>

<p> At the age of seven your child can be on the payroll for simple clerical tasks.  This can be anything from organizing the office to emptying the waste baskets.  Simply have them log their hours in a spreadsheet.  If a child is under the age of seven they can still get involved.  This can be in the form of being the company spokesperson or model.  If they are on any type of promotional material such as flyers they can receive a fee for their modeling services.  The exact number of the amount of money they can make changes year to year yet it is around six thousand dollars per a year.  You can then take this money and invest in a retirement or education fund.  This will not only provide for your child’s future, but will also give you an opportunity to cut back on taxes. <p/>