Article Category: Business Succession Planning

Small Business Tax Deductions

Posted on: April 22, 2015

Small Business Tax Deductions Being a small business owner has its challenges and rewards. Business tax deductions can be both. While many tax deductions are available to small businesses, it requires both knowledge and commitment on the part of the business owner or a business tax professional to keep up with what deductions are available and apply them to their maximum advantage. To do otherwise, automatically means that the business will be paying a larger tax bill than they would otherwise need to pay. Some of the common business tax deductions are discussed below. Office Supplies – The purchase of … [Read more…]

Tax Time: Choosing Right Business Entity is Crucial for a Small Business Owner

Posted on: February 6, 2014

Choosing the right business entity is one of the most important decisions a small business owner has to make. While many factors must be taken into account in making this choice, the tax implications of the various business structures are probably the most important consideration. Each business entity is subject to different tax rates, tax liabilities and tax reporting procedures, making entity selection the one of the most important elements of effective tax planning. Because the tax code for business is not only complex but constantly changing, the entity selection process may require the help of a competent tax professional. … [Read more…]