Are You Taking Advantage of All These Tax Deductions?
July 9, 2018 213 views
A Collection of Web Pages About Small Business Tax Deductions
You’ll find a selection of hand-picked, articles, and resource pages provided 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 you need to make money. The IRS deduct these expenses from your profits and because you only pay taxes on your profits, tax deductions result in fewer taxes paid.
You have sales of $15,000 dollars this month, and your normal profit is $4,000. You’ll pay taxes on the $4,000.
If it cost you $1,800 in advertising to make the $4,000 profit, then that $1,800 advertising expense is a tax deduction. Therefore, with the above example, you only have a $2,200 profit and would pay taxes on $2,200 rather than the $4,000.
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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