| HOMEBIZ TAX SHIELD | |||||
|---|---|---|---|---|---|
| DEDUCTION TITLE | MONTHLY | ANNUAL | |||
| 1 | BUSINESS USE OF VEHICLE –
(Calculate the number of miles per month You use your vehicle for business purposes deduction is based on $0.575 cents per mile Of “Business Miles ) |
|
$ 0.00 | ||
| 2 | CELL PHONE EXPENSES – (Calculate the amount you pay per month for Your cell phone. Deduction assumes a 50% business use of your cell phone for business) |
$
|
$ 0.00 | ||
| 3 | BUSINESS-RELATED MEAL EXPENSE (Calculate the amount you pay for business related meals each month. The deduction for 2022 is 100% of expense. ) |
$
|
$ 0.00 | ||
| 4 | BUSINESS RELATED TRAVEL EXPENSE Calculate the amount you pay for business Related travel per month . (Airfare, hotel, Uber, Tips, and any expenses, incidentals with travel) |
$
|
$ 0.00 | ||
| 5 | BUSINESS USE OF HOME OFFICE Calculate first, the percentage of your home Area used for home office from 1% to 100%) Calculate second, the total expenses for rent, OR Mortgage Interest, PLUS Gas and Electricity, Water, Sewer, Trash, Internet, Cable, Repairs, Maintenance expenses) |
%
$
|
$ 0.00 | ||
| 6 | HEALTH INSURANCE PREMIUMS (Calculate the amount you pay each month for Health Insurance premiums ) |
$
|
$ 0.00 | ||
| 7 | HIRING YOUR CHILDREN The number of dependent children You hire and pay each month to work in your Business. (This deduction is based on your HBB paying each child $5,000/year of the $12,000 in tax-free income they are eligible to earn annually) |
|
$ 0.00 | ||
| 8 | ENTER YOUR 2022 FEDERAL
TAX BRACKET
There are seven tax brackets for most ordinary income for the 2022 tax year |
|
|||
| Your Total Annual Deductions: | $ 0.00 | ||||
| Monthly | Annually | ||||
| Your Estimated Instant Pay Raise/Tax Savings: | $ 0.00 | $ 0.00 | |||
