Just 2 Months Until 2020
At the end of the year, business owners are often looking for ways to minimize their companies’ tax liability for the current tax year.
Take advantage of these ideas for ways to save on 2019 taxes
The Tax Cuts and Jobs Act created some new tax breaks for businesses. Many pass-through businesses – such as sole proprietorships, partnerships, single-member limited liability companies and S corporations – are eligible to receive a new deduction of 20 percent of net income.
Did you attend any seminars, workshops or classes in the past year that were designed to help you improve your job skills? Your work-related educational expenses, such as certifications, may be deductible, especially if they’re required to keep up or renew a professional license.
If you hire a consultant to help you grow new profit center, the fees and overall expenses you pay for those services are deductible. Make sure the fees you’re paying are reasonable and necessary for the deduction to count by checking with the appropriate IRS publication or a tax professional.
Advertising and Marketing
You already know that providing amazing goods and services isn’t enough to make your business succeed. You also need to advertise so your potential customers can find you. This is great news since advertising and marketing are often of the biggest business expenses that small businesses need to deal with as they get off the ground. Rest assured, you can deduct everything from flyers to billboards to business cards, and even a new website.
3 Steps to your best tax break of 2019
1. Download this awesome report
2. Read the report and envision your business thriving
3. Schedule your call today
Simple, right? I am confident Balanced Habits has what you need to get those three things easier and faster than you could imagine.
End 2019 with a bang and go into 2020 like a BOSS!