It's not to late to plan some of your business deductions for your 2003 income taxes.
http://moneycentral.msn.com/content/Taxes/Taxshelters/P33572.asp
A "Must Read" article is published on MSN Money/CNBC
Titled: "The ultimate tax shelter: Owning Your Own Business" Please take 5 minutes out and read it.
Do youown a "Home Based Business" like Everyday Wealth. You may have most or all of the deductions below:
Internet Costs
New Computer Upgrade
Office Supplies - Business Cards
Home Office Deductions
Automobile Useage
Medical Write Offs
Postage
My favorite is, Automobile usage, by planning my route to work each day (5 secoond decision), I am able to write off about 60% of the 20,000 miles I drive each year. Which is an approximate deduction of $4,000 dollars, just for building my business.
You have from October 1, 2002 to December 31, 2002 to begin recording you use of your vehicle for 90 days. Please verify this with your tax preparer, the 90 days will allow you to average your business use of your vehicle for the year. You can print the attatched PDF to begin your milage record keeping or purchase a "pocket version: at your Office Depot or Office Max.
I hope you find this information useful.