Tax season is nearly behind us. Accountants are bleary eyed. Some of us are expecting refunds. Some of us are sending Uncle Sam the last of our hard earned pennies. Congress is talking about simplifying the U.S. Tax Code. A true overhaul appears unlikely. We regularly help small business owners structure their business entities. New and old small business owners are often thrown into the deep end of understanding and structuring their tax deductions. Can I deduct that business dinner with a client? Can I deduct the wear on my tires for business miles? What about the nice desk I bought for my home office?
The U.S. Small Business Administration recently issued an article on these topics. We hope you find the article useful: https://www.sba.gov/blogs/8-small-business-tax-preparation-mistakes-avoid?utm_source=GRCC+enews+4.8.15&utm_campaign=E-News+4.8.15&utm_medium=email