4th Quarter Tax Tips to Maximize Deductions: Six S

New York, Oct. 15, 2013 (GLOBE NEWSWIRE) -- ( http://www.myprgenie.com ) -- 1800Accountant has just published a new white paper titled 4th Quarter Tax Strategies for Small Business. The free document outlines critical changes in the tax code, and includes practical tips on ways that small business owners can keep more of what they earned during 2013 by taking action now to maximize deductions .

"The time is now to take action on some key tax planning strategies that can help small business owners and self-employed individuals save big when tax returns are due on April 15. With three-quarters of the year behind you, chances are you have a good idea of how your profit (or loss) will look at the end of the year," says Gary Milkwick, CPA and Vice President at 1800Accountant.

2013 was a year of big changes in the tax code -- and some of the provisions may come as a surprise to taxpayers.  Did you know that:

1. Taxpayers who itemize medical deductions can deduct less of their medical costs for 2013?
2. Buying a heavy truck or SUV (even a Mercedes SUV) can result in a big tax break that lets small businesses deduct almost the entire cost of the vehicle from their taxable income?
3. Small employers can deduct up to half of the cost of health insurance premiums paid for employees?
4. There's a brand-new flat-rate deduction for home offices, which makes it easier to take the deduction with much less paperwork?
5. You can sandwich a vacation between business travel days and still deduct 100% of the transportation costs?
6. There are special tax rules for writers, artists, dancers, actors and other performers?

1800Accountant has published a new white paper that summarizes some of the key changes in the tax code and asks key questions that can help you keep more of the money you earn.

The white paper includes practical topics such as:

• 4th Quarter Tax Calendar
• Small Business Questions
  • Can the Affordable Care Act (Obamacare) Cut Your Tax Bill?
  • Can Your Business Save Big with Section 179 Depreciation?
  • Can You Claim Bonus Depreciation for Qualified Assets?
  • Can You Save More by Writing Other Assets Off More Quickly?
• Self-Employed & Independent Contractor Questions
  • Are You Tracking Eligible Tax Deductions?
  • Are You Overlooking These 5 Tax Deductions?
  • Are You Depreciating Eligible Purchases?
  • Are You Tracking Deductible Business Travel Costs?
  • Are You Helped by a New Flat-Rate Home Office Deduction?

Click to download 4th Quarter Tax Strategies for Small Business .

Note to the media: Gary and the other tax experts at 1800Accountant are available to answer questions about taxes and related issues. Whether it is the impact of the government shut-down on small businesses or what the Supreme Court's ruling on the Defense of Marriage Act means for employers or married same-sex couples struggling with year-end tax questions, Gary can explain complex issues in plain English and is extremely mediagenic.

Please contact Tasha Mayberry at pr@1800accountant.com or call 207.317.6099 to schedule an interview with Gary Milkwick. Visit www.1800accountant.com for more information.

About Gary Milkwick, Vice President

Gary Milkwick is currently Vice President at 1800Accountant.com, a tax preparation and consulting firm based in New York City. Previously, Gary has worked for several Fortune 500 companies at PricewaterhouseCoopers and a regional accounting firm in Atlanta. Gary has been a go-to expert making appearances on ABC, NBC, Fox Business, and Bloomberg Radio and has been quoted in the New York Post, CBS Moneywatch, Crain's New York Business, and CNBC.com. Gary earned a B.S. of Accounting and Master of Accountancy degrees from Brigham Young University, as well as an MBA from The Anderson School at UCLA. He holds Series 7 and 66 securities licenses. He is a licensed CPA with the Personal Financial Specialist designation in New York and Georgia.

Tasha Mayberry, , 207.317.6099