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2018 taxes: Here’s how small businesses can save big
Source:
philly.com
- Dec 19, 2018
There are less than two weeks left in 2018. But, if you’re running a small business, you still have time to make a few moves that could reduce your tax bill. Here are a few that you should consider:
Revisit your estimated payments
If you’re like me and most other business owners, you probably own a pass-through business, like an S-corporation, limited liability company, or partnership. If so, then you may be able to take advantage of a hefty new deduction that will exclude up to 20 percent of your business income from taxation. Also, if you’re earning up to $200,000 individually or $400,000 married filing jointly a year, you may also be looking at lower personal income tax rates. So, have you adjusted your estimated payments?
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Category: General Business
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