5 Mid-Year Tax Planning Ideas for Small Business Owners

August 5, 2020

The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it make more sense to maximize taxable income this year if you expect higher income and/or unfavorable changes to the tax law starting in 2021?

Read more

Small Business Tax Strategy: Heavy Vehicle Plus a Home Office

July 30, 2018
Small Business Tax

Every small business owner wants lower taxes. For those who drive a lot for work, buying a ‘heavy’ vehicle may open you up to a deduction under the new tax law.

Small business owners are always looking for easy ways to lower their taxes. Here’s a simple, but effective, tax planning technique that’s available under the Tax Cuts and Jobs Act (TCJA) for 2018 through 2022. To take advantage, you need to purchase a “heavy” vehicle, work from a qualifying home office and keep detailed business expense records. Read more