My Favorite Tax Deduction for your Bead Business

Since it is getting close to April 15th, I though that I would say something about the tax advantages of owning your own beaded jewelry business.

You can deduct most any expense that you have related to your business. Keep track of all of your expenses whether you know they are deductable or not and take them to a tax preparer or use a tax preparation software. You may be supprised at all of the possible deductions.

One of the best tax deductions is for the bussiness use of your vehicle. Keep a log book in your car and write down the starting and ending mileage everytime you use your car to sell your jewelry or pick up supplies or anytime you drive for business related reasons.

The deduction changes every year but it is over .40 per mile, so it is a deduction that can really add up!