A tax deduction is an expense that you can write off of your taxable income, allowing you to pay less in taxes, provided the expense meets IRS criteria. For small business owners, the tax season is one of the most pivotal times of the year. Taxes represent a major expense, which is wh...
When dealing with taxes as a freelance business owner or solopreneur, here are some common expenses you can write off. Advertising and Marketing Costs Expenses related to marketing your freelance business, such as marketing campaigns, business cards, domain names, and website hosting and maintenance...
Learn about the tax write-offs and small business tax deductions you may be missing and get ideas for how to use them.
Learn about the tax write-offs and small business tax deductions you may be missing and get ideas for how to use them.
There are several expenses you can write off if you’re paying taxes on your small business. Some common ones include work-related travel expenses, insurance payments, and donations to charity. Your business may be qualified for additional write-offs as well; consult a tax professional to learn...
The membership dues are not an allowed small business tax write-offs. However, the specific out-of-pockets expenses associated with qualifying meals (no entertainment) incurred at your country club are deductible. There are some other devils in the details, but this is the general gist. Don’...
Tax deductions can make a significant impact on the profit margins of small businesses. Rent receipts, insurance expenses, bad debt, and professional fees can all be write-offs. The better informed you are about what kinds of expenses are tax deductible when filing taxes, the more money you ...
It is important for businesses big and small to keep their finances organized throughout the year, so they can file their taxes with ease and include all proper deductions.
Whether you run your business or are a remote worker, you may be eligible for tax deductions to lower your tax liability. Applying for tax credits can boost your cash flow and save money for the next business season. “Write-offs are a great way to save some extra money this ta...
Recordkeeping, Business Structures, and Business Taxes Writeoffs, Tax Breaks, and Tax Reduction Strategies Tax Compliance and Reporting How to Make Estimated Tax Payments Small Business Tax Obligations: Payroll Taxes CURRENT ARTICLE 7 Ways to Avoid Self-Employed Tax Penalties ...