How to Make Business Deductions Out of Your Personal Expenses Part 5

<h2> Healthcare <h2/>

<p> If using a written medical reimbursement plan your business can cover your premiums, deductibles, and co pays.  In addition, care such as dental, eye glasses, and chiropractic can be written off even if they are not covered by your medical insurance. <p/>

<h2> Retirement <h2/>

<p> There are many different types of retirement plans available to you.  Which one is the best choice is covered in many other articles on the site.  Yet no matter which plan you choose the idea is to put as much as possible into it.  The response that most people have is that they don’t have enough extra money sitting around to put into the funds.  My answer to that is to take the money that you saved on taxes from the previous strategy and invest that into your future.  Using these strategies you can easily save 5 or 10 thousand dollars.  That is a significant amount of money to start putting away. <p/>

<h2> Cell Phones and Telephones <h2/>

<p> As long as your cell phone is used for business it is a completely acceptable deduction.  If you work out of your home get two lines, one for business and a personal line.  The business line should be payed for using the operating account that was previously mentioned.  This line can also be used to make personal calls yet the IRS prefers to see a separate line dedicated to your business.  In addition, a line for DSL or for a fax machine can also be deducted. <p/>