As the saying goes: “The only two certainties in life are death and taxes.” Squaring up with Uncle Sam can be a complicated proposition — especially for small-business owners. Despite having to part with some of your hard-earned revenue, and despite the arduous process figuring taxes can be, not paying attention to your taxes can cost you more money in the long run — particularly if you’re not sure which deductions you may be eligible for.
The truth is that deductions that could save you a bundle. But doing your taxes yourself and making a mistake might open you up to penalties from the IRS. That’s why you need the services of the professionals at Capital Tax. We’re here to help you save as much money as you can by analyzing your business and identifying items that can be considered tax-deductible. Some may surprise you!
Take a look at these common tax deductions (in full or in part) that are available to small-business owners. Keep in mind that some restrictions apply, so it pays to contact one of the professionals at Capital Tax to see if you qualify:
Qualified business income
Advertising and marketing
Office supplies and expenses
Office repairs and maintenance
Salaries and employee benefits
Legal and professional fees (legal, accounting)
At Capital Tax, we want your small business succeed! Our tax planning approach is effective, methodical, and thorough. Find out more and learn why our clients around the globe have trusted us with their tax and accounting needs for over 20 years. Call today!