Note that you can’t write off your primary landline if you work from home. You can, however, write off a second landline that you use for business. Taking on your own taxes? These old reliables may help! H&R Block Need help with tax preparation? Check outH&R Block'swebsite for a...
Learn about the tax write-offs and small business tax deductions you may be missing and get ideas for how to use them.
For many entrepreneurs, the words “tax return” cause anxiety. But a solid grasp of the regulations takes the stress out of tax season so you can focus on growing your company. Here’s everything you need to know to master your small business tax return. We’ll explore the types of bu...
For small-business owners, there are few sweeter phrases than “small-business tax deductions.” But in most cases, business owners just aren’t aware of all the small-business tax deductions available to them — or they simply aren’t taking the time to keep detailed records, itemize expense...
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2025 Tax Prep Action Steps for Small Business Owners Consult a Tax Professional:Changes can be complex. A CPA or tax advisor can help optimize your filings. Review Recordkeeping Practices:Accurate records make tax filing easier and protect you during audits. ...
including the state in which the entity is located, the structure of the business and the amount of income that the business generates every year. In the United States, corporations pay a federal flat tax rate of 21% on all business profits, but the average tax rate for small businesses ac...
Step 2: Understand your business taxes. So, how much does a business pay in taxes? It’s vital to understand what kind of taxes you will run into and how to adequately keep track of all your covered expenses to make sure you capitalize on those small business tax breaks. To help you ...
Cash flow problems can devastate a small business. According to SCORE, 82 percent of businesses that fail do so because of cash flow issues. It's wise to increase your collection activity and invoice regularly to help keep cash flowing. 8. Stay on top of tax deadlines. Individuals usually ...
As the new tax year begins, employers and owners of small businesses can learn about key changes and initiatives taking effect in 2025.