Technology, Consulting, Real Estate, Online Business, Owner Operator Truckers, Property Management, etc.
Expenses, payroll, vendors, supplies, marketing and utilities are just some of the things that will have an impact on whether your business with make a profit or carry a loss. However, you still have to file business tax returns.
Business Tax Strategy
Top of line for minimizing business taxes is to maintain accurate accounting records, so that all available deductions and credits are taken.
A monthly review of financial statements will help to make sure income and expenses are being accurately recorded; as well as provide a projected review of tax obligations.
Are You Doing These Things?
Making Sure You have the Right Business Structure
Setup a Retirement Savings Plan – SIMPLE IRA, SEP IRA, 401(k)
Accelerating Expenses
Making Charitable Contributions
Factoring In State and Local Taxes
Planning to Make Tax Payments
Tracking Travel Expenses
Tracking Vehicle Expenses
Tracking Business Loans
Tracking All Payroll Costs
Tracking All Independent Contractors Costs
Tracking Marketing and Advertising Costs
Tracking Telecommunication Costs
Tracking Inventory
Tracking Rents and Utilities
Want to know more?