Are You Taking Advantage of All These Business Tax Deductions?
July 9, 2018 707 views
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 the 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.
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