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“Yes, 2023 is over, and the tax filing season is already underway, but that doesn’t mean the tax laws can’t shift. Small business owners especially need to be aware of potential big changes ...
Make estimated tax payments on time. If your business qualifies as an S corporation, you'll need to estimate your taxes for the year and pay portions of that estimated total quarterly.
This is because employers pay half the taxes for you — but self-employed individuals pay all of it. Luckily, you can deduct half of self-employment taxes paid on your tax return. 2.
There are certain advantages in tax planning when the cash method of accounting is used: for instance, payment of business expenses may be accelerated before year end, in order to maximize tax deductions, whereas billings for services may be postponed to after year end, so that payments won't be received until the new year, thus postponing tax ...
The Small Business Jobs Act of 2010 is a federal law passed by the 111th United States Congress and signed into law by President Barack Obama on September 27, 2010. [1] The law authorizes the creation of the Small Business Lending Fund Program administered by the Treasury Department to make capital investments in eligible institutions, in order ...
The America's Small Business Tax Relief Act of 2014 was a bill that would amend section 179 of the Internal Revenue Code, which mostly affects small- to medium-sized businesses, to retroactively and permanently extend from January 1, 2014, increased the cap on the amount of investment that can be immediately deducted from taxable income. [1]
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