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Small Business Tax Help: Are You Claiming Enough Deductions?
Small Business Tax Help: Are You Claiming Enough Deductions?
By: Ara Rubyan
The formula is pretty simple: your small business must pay taxes on what’s left of your revenues after you have deducted all your expenses. That said, it would seem to make sense to claim the maximum allowable number and amount of deductions in order to reduce your tax liability. Luckily, the IRS gives you lots of choices as to tax deductions that you can legally claim.
Here are some deductions that you should think about when doing your business tax planning.
