What is a small-business tax deduction?.In this guide to small business tax deductions, we’ll tell you which deductions are available, note important changes from last year, and identify potential ways to save money on this year’s tax bill. Taking time away from the day-to-day management of your business to investigate every possible tax tip isn’t realistic.
Which of your expenses-including rent, inventory, payroll, or utilities-from the past year qualify as tax-deductible? Have new deductions been added? Have tax rule changes made other small business deductions ineligible? When you’re a small business owner, tax time can feel overwhelming.
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