If there are two words that you would always put together, they would be business and taxes. Around the United States, businesses are some of the biggest payers of tax, especially small and medium sized businesses. While you may hear stories in the news about how major corporations get away with paying next to nothing in taxes, you are probably not hearing about the hundreds of millions that go into the IRS coffers through small businesses around the country. And we want to help these small business ensure they are paying their taxes fairly and to the letter of the law.
But we also want to help businesses avoid paying too much in taxes. Now you may wonder, how can I pay more than I need to give on my annual taxes? The answer is simple: there are plenty of loopholes and sections within the tax code that are designed to provide some relief to business owners. However, it takes a skilled accountant, tax professional or small business owner to identify these loopholes, apply them to the business in question and ensure they are paying as little in taxes as possible. None of the tips we provide are even remotely against IRS regulations – they are simply providing you with the tools to save money as ordained by the tax code.
There are plenty of companies that offer tax coaching and business tax services. At our blog, we prefer to provide valuable information about the tax code as it pertains to small businesses. We hope small business owners will read through our articles and get a sense for how the tax code is being shaped in the coming years. If we learn about or discover any tricks or tips that can help a small business owner save on his taxes in the coming year, we will always include these tips in our articles!