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The Big List of Small Business Tax Deductions (2020)

Source: https://bench.co/blog/tax-tips/small-business-tax-deductions/ - Mar 6, 2020

One of the simplest ways to reduce your income tax bill is to ensure you’re claiming all of the tax deductions available to your small business.
What exactly is a tax deduction?

A tax deduction (or “tax write-off”) is an expense that you can deduct from your taxable income. You take the amount of the expense and subtract that from your taxable income. Essentially, tax write-offs allow you to pay a smaller tax bill. But the expense has to fit the IRS criteria of a tax deduction.

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Category: General Business