Be Smart About Writing Off Your Smartphone During Tax Time
Wouldn't it be nice to write off all those exorbitant fees that we all seem to pay every month for our smartphones and data?
As part of his tax and legal tips video series, Entrepreneur Network partner Mark Kohler describes four ways you can make this happen if you use your phone in a small-business context.
1. You've got to have a small biz on the side.
2. Your cell phone is not listed property, so it does not depreciate.
3. Be sure to have a personal line somewhere.
4. Are your kids or spouse involved in the business? Even better.
Watch the video to learn more, and check out Kohler's new book, The Tax and Legal Playbook, at Entrepreneur's online bookstore.