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Tip #24 QBI. Qualified Business Income Deduction, also known as Section 199A, allows businesses to claim a tax deduction of up to 20% of...

You are busy running your business and you simply do not have the time to prepare and file your business taxes.

Tip #22 Bonus Depreciation. Having a hard time finding deductions to minimize your tax burden for 2020? Have you considered bonus...

Tip #20: R&D Tax Credits. Tax credit is a tax incentive that allows you to offset your tax liability dollar to dollar. However, it is...

Tip #18: Prepay Expenses. They are future expenses that have been paid in advance, so expenses that will be used in the future like rent,...

Tip #19: Stop Invoicing. It has been a long year for everyone, and you have been working hard throughout all of 2020. As the year is...

Tip #17: Invest in Revenue Generating Assets. When running your business, how often do you purchase equipment or machinery for it? Do you...

Tip #11: Missing Out-of-Pocket Expenses. When going out for a business trip or to get some supplies for the office, you may have...

Tip #10: What is fully deductible, partially deductible, and non-deductible? We all want to maximize our deductions so we can reduce our...

Tip #9: Missing Credit Card Expenses. Business credit card expenses is a common mistake that business owners make when they submit their...