Years ago, the government gave us a new deduction called a “production deduction”.  It started off at 3%, but over time has been going up.  In fact, in 2010, it’ll be up to 9%.  

I keep seeing this deduction missed on new client’s past tax returns.  If you have a business that produces or improves something, chances are you’ve got another deduction coming.  One return I looked at this past year would have saved about $5,000 in taxes if they’d taken this deduction.  Wow!  That’s a lot to leave laying on the table.

We’ll make sure they never miss it again.