Focuses on the tax breaks for small business owners in the United States effected by the Small Business Job Protection Act of 1996. Changes in pension plan rules; Classification of workers for tax purposes; Inclusion of...
A new policy was released in 2021 allowing small business owners to have a value-added tax exemption for a part of annual business revenue worth 150,000 yuan ($21,450), compared with 100,000 yuan in 2020. A 50 percent reduction in the tax was applied to annual sales revenue between 150...
BEIJING, June 7 (Xinhua) -- China will expand tax breaks for small businesses in a move to reduce corporate burden and support economic growth, authorities said Wednesday. From Jan. 1, 2017 to Dec. 31, 2019, small businesses with an annual taxable income of no more than 500,000 yuan (...
Tax season is stressful for any business owner. You got into business to make money and sell what you love, not become an accountant. However, no matter what type of small business you own, tax deductions play an important role in your life. Also known as “tax write-offs”, business o...
"Small business owners are not always well informed, so we need to make all the new policies known to them," the official said. "Even if they are informed, they might not be familiar with the procedures in dealing with tax reduction or rebates. In this case, taxation officials will offer...
Business Tax Deductions: An Overview The Internal Revenue Service (IRS) defines deductible business expenses as those that are "ordinary and necessary" to the business. Of course, the agency backs up that ambiguous phrase with a mountain of rules about deductible expenses.1 ...
Do you have some tax advice to share with your fellow entrepreneurs? Let's hear it. Further reading: 5 Changes to the Tax Code You Should Know About Don't Miss These Small Business Tax Breaks The Weekly Dispatch: More Tax Relief...and More Penalties ...
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 ...
9 (Xinhua) -- China has decided to roll out a new batch of inclusive tax-cutting measures for small and micro businesses, with the goal of saving them a total of 200 billion yuan (about 30 billion U.S. dollars) each year. The policies will include substantial drops in business income ...
Small business owners surveyed by the National Federation of Independent Businesses in December continued to express caution about capital expenditures, even as the tax package was passed in Washington. "There are couple of pieces of equipment that we're interested in, but it will also depend on ...