Our Business Tax Services Supply Some Helpful Tips
May 24th, 2018
It’s important that you don’t need to work on deadline in April to get your taxes ready. That’s where our business tax services can help. Here’s a few excellent tips to make sure everything is in order.
- Keeping your personal and business expenses in separate corners is mandatory. Many business owners accidentally blur the lines between the two and that can lead to tax issues. Mixing business and personal expenses can raise some red flags with the IRS. They can actually start viewing your business as a hobby and that can cause further issues.
- It’s also important to ensure that you put your records in good order before tax time. There are several deductions which are common to small businesses and these include entertainment and mileage on your vehicle. You can also deduct up to $10,000 for start-up expenses.
- Taking a look at your equipment purchases is another important element. Keep in mind there are some restrictions here and contacting our Los Angeles business tax services can help you stay between the lines. Some household costs as well as certain types of software apply.
- It’s always good to remember there are a variety of potential tax credits too. Make sure you understand all about the different research and development possibilities. We can also walk you through the different energy tax credits available.
With a little due diligence and careful planning, you’ll be ready for tax season. It’s always a good idea to have most of your documentation ready to go by midsummer.
TaxPlus is always available to help you with your business tax planning. We have an outstanding staff of certified and experienced professionals who can help you get the kind of deductions you deserve as a business owner.
Take just a few minutes to look through the testimonials that we have placed on our website. You’ll see what high regard our clients have for our services.
We make sure to develop a close and personal relationship with each and every one of our Los Angeles clients. We understand that each and every business is different and that’s why we plan and structure your deductions accordingly.
It’s always a good idea to review your inventory balances before tax deadline when you’re in business. There are many different avenues to pursue when it comes to business tax services. Want to get in touch with us today so we can help you get the most from them?