As a small business owner, tax deductions can significantly lower your taxable income and increase your bottom line. In 2025, key tax-saving opportunities include Section 179 deductions, bonus depreciation, and the Research and Development (R&D) tax credit....
Business Taxes
Key Tax Strategies for Self-Employed Professionals to Maximize Money Savings
Self-employed professionals juggle numerous responsibilities, and while taxes are often a top concern, devising a strategic plan typically gets pushed down the priority list. This can lead to overpaying taxes. Read on for some tax strategies to help self-employed...
Small Businesses Should Avoid These Common Tax Mistakes
For small business owners, grasping an understanding of the myriad of tax rules that apply to your business is stressful, and mistakes can result in fines and penalties.
Small Business Owners Can Use These Tax-Saving Strategies to Reduce Their Tax Bill
Tax planning strategy isn’t one-size-fits-all, but there are some approaches that are generally accepted as smart and effective for small businesses. If you’re looking to minimize what you could owe on income taxes, the following strategies could help. Time Income and...
Self-Employed Tax Deductions and Credits Not to be Overlooked
The tax deductions below are available to the self-employed, but they’re not always known and/or claimed on tax returns. Read on to find out how these important credits and deductions can help reduce your tax bills. Home Office Deduction A portion of the total cost of...
Small Business Owners Should Be Aware of These Tax Audit Triggers
Operating a small business is difficult enough without the worry of facing a potential tax audit. Not only can you minimize your risk by filing accurately and on time, but there are some red flags that the IRS looks for when determining who to investigate. Below we’ll...
Extensions of the Employee Retention Tax Credit in 2021
The Consolidated Appropriations Act, 2021 (the Act), which was signed into law in late December of 2020, created more opportunities for using the Employee Retention Tax Credit (ERC). Originally a provision of the Coronavirus Aid, Relief and Economic Security Act...