Small business owners can reduce their #tax liability legally by deducting a range of business-related expenses. Remember to deduct vehicle-related costs, travel expenses and purchases of equipment and supplies. “Generally, you can deduct any business expense that is both ordinary (common and accepted in your industry) and necessary (helpful and appropriate for your business),” TurboTax says. Depending on your situation, bad-debt deductions and employee expenses including salaries, bonuses, payroll taxes and benefits may be eligible for a #deduction, as is a home #office. #LastMinuteTaxDeductions
Tag: small business
Shopping Black Friday and Beyond
Black Friday is finally here! But don’t think this the only time you can save on #holiday #gifts — the day is only the start of Cyber Week and other retailer promotions. Good Housekeeping is tracking some of the week’s best deals, and CNET offers a shopping widget you can use with your internet browser to make sure you get the best price on millions of items. Don’t forget to shop local on Small Business Saturday and throughout the holiday season, either — shopping local businesses is typically more sustainable and ecofriendly than shipping a gift thousands of miles to your door. #BlackFriday2023