Minimize Your Business Tax Expenses

Taxes are major concerns for every honest business ownerTaxes are major concerns for every honest business owner. Disregarding this aspect can largely influence the flow of profit and expenses.
Here are some tricks to help you minimize what you pay for your business’ taxes:
  • Keep a document of all the expenses’ receipts and financial transactions related to your business; substantiate the expenses you claim on your tax return.
  • Set aside cash for deductible expenses such as donations, Christmas bonuses, etc.
  • Watch out for deductibles relating to mortgage, insurances, repairs and depreciation if your business is home-based.
For more tips, click here.
photo by: 401(K) 2013

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