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
5 Questions You Must Ask Before Hiring A Good Tax Preparer
Before you hire someone to prepare your tax returns, you want to conduct an interview and ask several important questions. The answers to these questions will determine whether this tax preparation service is qualified to provide what you need. 1. How long have you been doing tax returns?r
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Business Tax Deductions - How to Deduct a Bad Debt
The purpose of this article is to answer the question: "What do I do if a customer or client doesn't pay me? Do I get to deduct the lost sale amount?" Of course, this is a common problem in any business. Oh that we never encountered a bad debt or an uncollectible account receivable! Perhaps you sell products on credit, and the customer doesn't make good on his promise to pay. Or you may provide a service and do not require payment at the time the work is performed, and send an invoice which the client refuses to pay.
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How to Find the Right Tax Preparation Service for You
What should you look for in a tax preparation service? Since there are so many tax preparers to choose from, it only makes sense that you know what you need before making a decision. Here are three essential qualities that any reliable tax preparation business will have: 1. Many years of experience.
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How to Prepare Form 4562 - The Big Picture
If your small business is a Sole Proprietorship and you are involved with the preparation of your income tax return, you will eventually run into Form 4562, one of the most complicated tax forms on the planet, if not the universe. But do not despair, for help is on the way. The purpose of this article is to give you an overview of Form 4562 so you know enough to decide whether to tackle this form yourself or turn it over to a professional tax preparer.
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How to Prepare Form 4562 For a Sole Proprietorship
If you are a Sole Proprietor who purchased business equipment, and you'd like to deduct that purchase on your income tax return without breaking into a sweat, this article is for you. I'm going to show you how to properly fill out Form 4562 without getting bogged down in those complex depreciation calculations, and you'll get to deduct the full price of your equipment in the year you bought it.
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How to Prepare Form 8829
If you are a Sole Proprietor with a home office, you must file Form 8829, Expenses for Business Use of Your Home. The purpose of this article is to help you prepare this form without getting a headache. This article makes three assumptions about your business: 1. Your Sole Proprietorship is not a in-home daycare facility; 2. Your business has a profit that is greater than your home office deduction; 3. You do not have any home casualty losses to deduct.
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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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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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How to Prepare Schedule C, Part III, Cost of Goods Sold
If you are a Sole Proprietor, you must file Schedule C, Profit or Loss From Business (Sole Proprietorship). And if you are a Sole Proprietor whose business involves sale of a product, you must complete Part III of Schedule C, Cost of Goods Sold. The purpose of this article is to help you with this all-important task, because it is likely that Cost of Goods Sold is one of the largest expenses (if not the largest expense) in your business.
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How to Prepare Schedule C, Part IV
If you are a Sole Proprietor who is deducting Car and truck expenses on Schedule C, Line 9, you may be required to complete Part IV of Schedule C, "Information on Your Vehicle." The purpose of this article is to explain how to complete this section of Schedule C. Schedule C, Part IV begins on Page 2, Line 43 and ends on Line 47. This is a series of information questions designed to find out more about the vehicle you used for business. Here's an explanation of each line in this section.
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How to Prepare Schedule C, Part V
For Sole Proprietors, Schedule C can be either your best friend or your biggest nightmare. There are parts of this two-page form that you will learn to love or grow to hate. There are five parts to Schedule C, and the purpose of this article is to help you with Part V, Other Expenses - hopefully this will become one part of Schedule C that you come to enjoy preparing.
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How to Prepare the Easy Part of Schedule C
Are you a Sole Proprietor who faces the daunting task of filling out Schedule C every year? If you break out into a sweat just thinking about, you came to the right place. To get the most out of this article, get a copy of Schedule C and have it in front of you as you read on. You can open up your tax return software program to Schedule C, download a copy from the IRS website, or use the printed paper version from a recently filed return.
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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."