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As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your businesstaxes.
As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your businesstaxes.
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By providing a combination of taxplanning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. Get businesstax & bookkeeping help by contacting us today!
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Ryan Bixenman is the is the tax team leader of the Special Purpose Acquisition Company Services Team. Tyler Collins is the market leader of Withum’s R&D Tax Credit Services and is an expert in complex tax regulations. Sean Urbany is a tax partner who focuses on high-net-worth families and their unique taxplanning needs.
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According to a recent KPMG report , you can take a full deduction for business meals provided by a restaurant. So for those of you filing your businesstaxes for 2020 , you will not be able to take a full deduction on your tax return. Does this apply to entertainment expenses? So, there you go!
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branding, logos, banners, business cards, etc.) Business meals/entertainment Travel Uncollected debts Medical/healthcare expenses Property/rent Tools and technology Self-employment taxes Tip : Don’t just throw receipts in a shoebox and hope for the best. It’s also surprisingly affordable.
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