7 Tax Tips for Your Small Business

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7 Tax Tips for Your Small Business
Tax season is around the corner and tax savings
are out there you just need to find them. Before
you close the books, take time to think about
business tax planning. You may pick up some great
tax tips, like delaying until next year to send
invoices to clients. Cash-basis taxpayers only
pay tax on cash go through, so you are deferring
taxable income until next year when you delay
collections. Here are tax tips for lowering your
small business tax bill. Take the qualified
business income deduction Consider changing your
business structure Take year-end tax planning
seriously Research small business tax
credits Take a home-office deduction Save every
receipt Carryover losses