Taxes are often one of the most expensive business costs. This comprehensive guide provides various strategies that you can use to pay less taxes and put more money in your pocket.

You’ll learn:

How to pay less taxes as a business owner

• How to create an effective tax savings plan

• How to capitalize on tax credits for small businesses

• How to create a solid financial plan that creates long-term tax savings

• Why you need a tax advisor, even when you love your CPA

Everyone hates paying taxes. Everyone wants to pay less in taxes

Unfortunately, most business owners don’t know how to find tax-deductible loopholes, so they merely accept things as they are. Some business owners are already working with great CPAs who are amazing at preparing tax returns but don’t know how to help their clients minimize their taxes.

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There are several ways that young families that own businesses can benefit from the tax law, increase their tax deductions, and also have more cash in their family bank account. The great news is, you can get this done tax-free. 

With the high cost of health care, business owners need to ensure that they are maximizing their deductions by implementing the right steps to claim 100% of their expenses incurred for healthcare. You are eligible to utilize the self-employment insurance premium deduction on your individual income tax return (Form 1040). 

If you have low cash flow, you may have considered a few alternatives such as getting a loan or increasing your sales. You may even have tried doing these things, but realized that the results were short-lived. Here’s why these alternatives may not be the best solution for your situation.

As a CPA, I understood the importance of cash flow, but it wasn’t until I heard this quote that I had the epiphany that a company’s cash flow could determine if it stays in business or not. What I have also discovered over the years is that the biggest challenge that ...

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Running a business can be more rewarding and less stressful if you understand your financial situation and how you can improve. It will also help to be aware of the various performance indicators and how they affect your bottom-line. Weak margins, cash leakages ...

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Self-employed individuals are eligible to utilize the self-employment deduction on their individual income tax return (Form 1040). They are also able to deduct the amount paid for medical and dental insurance and qualified long­ term care for your family.

 Most people are unaware of another type of tax return fraud, where the tax preparer files a return on your behalf, but claims inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions. 

Business entity selections are not only important for start-ups, but also for more mature businesses. The more complex a business gets, the more flexibility may be needed in order to maximize tax savings.