Small Business Deductions

  • What can you Deduct on Your Small Business Taxes? If you own a small business, you may be wondering how you can reduce your taxable income and save some money at tax time. Below are some of the best deductions currently available to small businesses. New equipment purchases. If your small business invested in new equipment, ... Continue Reading
  • Tips for Determining Automobile Allowance for Business Use Deducting small business expenses is one of the best ways to lower your tax bill. For many businesses and individual entrepreneurs, one of the most advantageous deductions is the automobile allowance. This deduction allows you to reduce your income based on the expenses you ... Continue Reading
  • Seven Small Business Tax Deductions You Might Have Missed Managing a small business is complicated. Managing and keeping track of all the deductions you are entitled to can be even more so. You are not alone. According to Kiplinger, millions of individuals overpay on their taxes each year. Below are a seven small business tax ... Continue Reading
  • What Can You Claim as a Business Expense? Tax time is the least anticipated time of the year for most Americans, but especially so for business owners. Not only do you have to do your own personal taxes, but you have to file for your business and determine which of your expenses are deductible. With the deadline to ... Continue Reading
  • Use Caution When Taking Tax Deductions for Business Use of Your Home It’s that time of year when small business tax preparation is a hot topic, and the small business bookkeeping pros at PADGETT BUSINESS SERVICES® field a lot of inquiries about IRS rules and regulations. Entrepreneurs who run home-based businesses often have a lot of ... Continue Reading
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