It’s not just small businesses either. In fact, over 60% of Fortune 500 companies are incorporated there. This may seem bizarre, but it’s definitely no accident: Delaware has been consciously choosing to be the ideal home for businesses as far back as 1899.
There are many ways for businesses to lower their tax liability with deductions and credits that set off taxes directly with qualifying expenses—you’ll find 92 potential tax deductions in this article. Typically, tax law requires deductible business expenses to be ordinary (common and accepted in your trade or business) and necessary (helpful and appropriate for your trade or business).
There are an infinite number of reasons why a business may not be able to file their taxes on time. Between demo days, investor meetings, and late-night team strategy sessions, the bookkeeping and tax prep for an early stage company can often fall by the wayside.
Business owners are often surprised to hear that January and July are the two busiest sales tax months. Most Americans think “tax deadline,” and their minds immediately jump to the March and April income tax deadlines.
A new year brings exciting changes and resolutions in your personal and professional life, which can make for an overwhelming first quarter. With the six-month tax extension, you can take on new initiatives without letting existing responsibilities slip out of your control
We talk a lot about tax deductions and credits on this blog. From home offices to bonuses to charitable tax deductions, there are so many ways to help our clients save on taxes! So it can be easy to forget that so many small businesses overpay each year just because they miss their tax deadlines.