Owning a business is rewarding, but tax season? Not so much. The good news? With smart planning, you can reduce your tax bill and avoid costly IRS mistakes. Here’s how:

1. Pick the Right Business Structure

Your business type affects your taxes. An LLC, S-Corp, or sole proprietorship? Each has different tax benefits. If you’re not sure which is best, we can help you decide.

2. Deduct Business Expenses the Right Way

Many small business owners leave money on the table by not claiming deductions. Some commonly overlooked deductions include:
📌 Home office expenses
📌 Business mileage
📌 Equipment, software, and advertising costs

Pro Tip: Keep detailed records of every expense to justify your deductions in case of an audit.

3. Contribute to a Retirement Plan

Setting up a SEP IRA or 401(k) isn’t just good for retirement—it lowers your taxable income, meaning you keep more of what you earn.

4. Pay Your Estimated Taxes on Time

Unlike W-2 employees, business owners must pay quarterly estimated taxes. Missing a payment can result in penalties, so mark those due dates on your calendar!

5. Work with a Tax Expert Year-Round

Tax laws change, and DIY tax software can only do so much. Having a tax professional on your side ensures you’re compliant, reduces stress, and helps you save more money.

📞 Not sure if you’re overpaying on taxes? Let’s fix that—call (602) 296-5941 today!