I'm sure you've heard – but the government is giving us a one time pass to deduct the federalexcise tax we were charged from 2003 through 2006 – 41 months of phone bills. Whether you are a one-person home office or a company of thousands – this is worth looking into.
You can calculate the amount spent manually…that means digging out EVERY SINGLE PHONE BILL for those 41 months and adding up the federal excise tax to arrive at the amount that should be deducted.
There is an estimated process which will save time and valuable payroll dollars that could be used for other projects.
Attached is a PDF I found that provides easy to understand instructions – but to be safe, make sure you talk to your accountant for the scoop in your state.
For those doing your own taxes – a separate form number 8913 will need to be completed.
Check it out – you may enjoy a sizeable deduction!