A Collection of Articles About Small Business Tax Deductions
You’ll find a selection of hand-picked articles, and resources, written by a variety of authors included in this post to give you a solid overview regarding business tax deductions, but first, a few brief points to consider.
Tax deductions are expenses used in a business. The IRS deducts these expenses from your tax bill because you pay taxes on your profits, not revenue.
You have sales of 15,000 dollars this month, and your profit is 4,000 dollars. You’ll pay taxes on the 4k, not the 15k.
Another consideration is the cost to make the above profit. If it cost you 1,800 dollars in advertising and fulfillment cost to make the 4,000 dollar profit, then that 1,800 dollar expense is a tax deduction. Therefore, with the above example, you only have a 2,200 dollar profit and would pay taxes on 2,200 dollars rather than 4,000 dollars.
How many tax deductions are you missing? There is a long list of legitimate tax write-offs the IRS entitles you to use. You need to know what they are and take advantage of them.
This post contains a selection of articles related to tax deductions. Have a look at each to get an overview of the write-offs you can use for your business.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.