An article now up on the Wall Street Journal website covers eight areas where you as a small business owner may encounter some of your best chances at getting tax breaks.
Areas here include personnel, equipment, energy, travel and entertainment, and personal advancements:
Have you been waiting to pursue an MBA or take a business course? Go ahead, and deduct up to $5,250 for it. Keep in mind, “you need to prove that it’s a necessary expense to maintain or improve skills,” says Eddy Quijano, professor of accounting at Cal Poly’s Orfalea College of Business in San Luis Obispo, Calif. An educational endeavor such as a ballet or French-cooking class, for example, could raise a red flag, if you don’t own a dance studio or restaurant. Also deductible: the cost of magazine and other publication subscriptions, if used for a legitimate business purpose.
Click through to find all these best tax breaks for small businesses.




No user commented in " Best Small Business Tax Breaks "
Follow-up comment rss or Leave a TrackbackLeave A Reply