Wayne Davies
Free
Tax Preparer / Tax Reduction Expert
Wayne Davies Quick Facts
- Main Areas
- Tax reduction strategies for individuals, small business owners and the self-employed
- Best Sellers
- The Tax Reduction Toolkit
- Affiliation
- National Association of Tax Professionals
Wayne M. Davies is a Tax Professional serving individuals, small businesses and self-employed people in all 50 states. Based in Fort Wayne, Indiana, Wayne has been helping people reduce their taxes for the past 20 years. He provides a complete line of bookkeeping, accounting, payroll and tax preparation services for all business types: sole proprietorships, partnerships, corporations and LLC's. He is author of 3 tax-slashing ebooks for small business owners and the self-employed, "The Tax Reduction Toolkit: 29 Little-Known Legal Loopholes That Will Reduce Your Taxes By Thousands", "Incorporation Tax Secrets Revealed", and "How To Incorporate Yourself For Free". His ebooks are available separately or as a 3-volume set, "The Ultimate Small Business Tax Reduction Guide". Wayne publishes 2 free online newsletters: "Make Your Life Less Taxing" (on personal tax issues; new subscribers receive a free Special Report, "How To Save Hours of Time and Thousands of Dollars with One Simple Tax Deduction") and "The Small Business Tax Newsletter" (for small business owners and the self-employed; new subscribers receive a free Special Report, "How to Instantly Double Your Deductions").
Free Articles & Book Excerpts
Wayne Davies Books
Articles by this expert
SelfGrowth articles and saved writing connected to this expert.
Article
Schedule C Tax Tips - What's Deductible?
What is the most frequently asked tax question? Are you ready? Here it is: "What's deductible?" That's it. Without a doubt, it's the most common tax questio I receive every year. It comes in several forms, such as: -How do I identify all the deductions I'm allowed to take? -Is there anything deductible that I'm not deducting? -How do I make sure I'm taking all legal deductions? -Is there one resource that describes all legitimate deductions, A to Z?
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Small Business Tax Deductions - How to Deduct Your Next Vacation
It is perfectly legal to deduct your next vacation. Here's how to do it. To qualify for this deduction, you must meet the following two criteria: 1. You are self-employed or own a small business 2. On your next trip, you combine business with pleasure. The first requirement is pretty cut and dried. By "small business" we are including any type of self-employment activity, full-time or part-time, home-based or "bricks and mortar". This deduction applies to any type of small business entity: sole proprietorships, partnerships, corporations, and limited liability companies.
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Small Business Taxes - How to Pay the Right Amount of Quarterly Estimated Tax
Do you have trouble calculating quarterly estimated tax payments? Here are some helpful tips to make the process much easier and less stressful. If you're newly self-employed and unfamiliar with the IRS' estimated tax payment schedule, here are the due dates for the Year 2009 quarterly estimated tax payments (made via Form 1040-ES): QTR 1: April 15, 2009 QTR 2: June 15, 2009 QTR 3: September 15, 2009 QTR 4: January 15, 2010
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Payroll Taxes - How to Reduce the Likelihood of a Tax Penalty by 31 Times
Here's the latest version of the age-old story, "The Tale of Two Small Business Owners." It goes like this: Small Business Owner #1 is 31 times less likely to be penalized by the IRS tha Small Business Owner #2. Hmmm. What gives? What is the difference between these two chaps? It's simple, really. Small Biz Owner #1 makes his federal tax payments electronically, using the government's Electronic Federal Tax Payment System (aka EFTPS). Small Biz Owner #2 makes his federal tax payments manually, using good old paper 'n ink to write the check.
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What Happens If You File a Business Income Tax Return After September 15?
The due date for business income tax returns on extension is September 15. If that date has passed and you still haven't filed a return for your corporation, partnership or LLC that is being taxed as a corporation or partnership, what are the consequences? The short answer is this: You will probably pay for your tardiness. The long answer is twofold: Scenario 1 - Balance due returns.
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Small Business Tax Tips - How to Prepare Form 4562 in 5 Simple Steps
If you bought equipment for your business last year such as a computer or a printer, you can deduct those items on your business income tax return. Usually that means tackling Form 4562 and entering one of the most complicated areas of tax law, the dreaded world known as depreciation. For do-it-yourself-ers who abhor the thought of paying someone else to do your income tax return, this article will help you prepare Form 4562 without breaking into a sweat.
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How to Prepare Schedule C, Part II
Do you need help reporting expenses on your Schedule C? Are you wondering whether you've accurately captured all deductible business expenses for your Sole Proprietorship? Then this article is for you. Preparing Schedule C is an integral part of any Sole Proprietor's personal income tax return. And Part II is where you get to report all your expenses. What could be more important than that? Here is the list of expenses that are shown in Part II, Lines 8-27: 8. Advertising 9. Car and truck expenses 10. Commission and fees 11. Contract labor 12. Depletion
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Summer Tax Savings - 4 Reasons to Donate Your Stuff Instead of Having a Yard Sale
The purpose of this article is to persuade you to not have a yard sale this year. Instead of holding a garage sale, why not give all your stuff to a charitable organization? I can think of at least four reasons to adopt this motto: Be charitable not profitable! Reason #1: You'll save time. When you add up all the hours you'll spend organizing, hosting, and cleaning up after, you are likely to spend 20-30 hours doing a yard sale. Compare that to the time it will take you to load up your stuff and take it to the nearest Goodwill Industries or Salvation Army. 'Nuff said?
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Tax Preparation Services - Why You Want and Need An Experienced Tax Preparer
Finding a good tax preparer can be a challenge. When it comes to credentials, there is no substitute for years of experience. Here's a story that will help communicate the importance of hiring an experienced tax preparation service rather than a novice. My father recently had heart surgery. My mother and I were sitting anxiously in the waiting room before the operation when the doctor came in to speak with us briefly. We exchanged pleasantries and then I asked him, "How many times have you done this particular type of procedure?" He smiled and said, "Thousands of times."
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How to Prepare Schedule C - Part I
Are you a Sole Proprietor and prepare your own tax return every year? Do you ever need some help with Schedule C? Get out a copy of Schedule C and let's take a look at Part I, Income. The purpose of Part I is to report your income, aka "sales" or "revenue". In other words, how much money did you make during the year from the sale of products or services. Service-based businesses.
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Small Business Tax Tips - 3 Reasons to Benefit From IRS Audit Rates
Who's afraid of the IRS? Let's face it: We all are! And with good reason. IRS horror stories abound, and we all know someone who's been through an IRS audit and barely lived to tell about it. So the purpose of this article is to help calm those fears. Maybe I can't remove them completely, but I do hope you find some comfort in what I'm about to tell you.
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Small Business Tax Deductions - How to Deduct Non-Deductible Commuting Mileage
For most folks, commuting mileage is a non-deductible expense -- unless you know the legal tax loophole I'm about to reveal. The non-deductibility of commuter miles is painfully true for the employee who fights rush hour traffic every day, twice a day, for 5 to 10 hours a week. All that hassle, and what does he have to show for it? Just gas money down the drain, not to mention the wear and tear on both his vehicle and his stress-o-meter.
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Websites & resources
SelfGrowth-published websites, downloads, and contributor profile websites connected to this expert.
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GodWroteTheBook
Resources to help you read, study and understand the Bible. Articles, book reviews and favorite quotes on all things biblical. Subscribe to my weekly update and receive a free copy of my book "Sweeter Than Honey, More Precious Than Gold: Meditations on Psalm 119."
April 22, 2016
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Good Tax Preparer
Looking for a good tax preparer? Your search ends here.
December 17, 2010
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Fort Wayne Tax Preparation Services
Fort Wayne's Top Tax Preparer offers a free ezine, "Make Your Life Less Taxing" and a free report, "How To Save Time & Increase Your Deductions With One Simple Tax Strategy."
September 13, 2010
Website
YouSaveO Taxes.com
Tax reduction strategies for small business owners and self-employed people. Free 30-page report - "How To Instantly Double Your Deductions" (and slash your taxes to the bone).
September 3, 2010
Contacting Wayne Davies
Wayne M. Davies Inc.
4660 W Jefferson Blvd, Suite 220
Fort Wayne IN 46804
Phone: 260-459-3858
Email: wayne@YouSaveO Taxes.com
How to get started
Visit www.YouSaveOnTaxes.com to subscribe to my free tax-saving ezine for small business owners and the self-employed, "Small Business Tax Newsletter". New subscribers receive the free report, "How To Instantly Double Your Deductions" (and slash your taxes to the bone).
Visit www.OneSimpleTaxDeduction.com to subscribe to my free ezine on personal tax issues, "Make Your Life Less Taxing" and receive the free Special Report, "How to Save Hours of Time and Thousands of Dollars with One Simple Tax Deduction."