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Salt Lake City Bookkeeping Blog

Did You Know? These Small Business Expenses Are Fully Tax Deductible!

Posted by Leanne Armstrong on May 8, 2019 9:00:00 AM

Did you know that not all small business expenses are created equal when it comes to your annual tax return? Most entrepreneurs understand that deductible expenses help to offset many of the costs of running a business. But not every expenditure is fully tax deductible. Understanding which expenses can effectively reduce your taxable income will not only help you estimate your tax obligation for the coming year, it will improve your business planning.

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Topics: Tax Preparation For Year End, Tax Tips, tax strategy, Expense Management

Why it’s Never Too Soon to Start Planning Next Year’s Tax Return

Posted by Leanne Armstrong on Aug 8, 2018 9:00:00 AM

Filing your business taxes correctly and on time is a must. But some entrepreneurs are ready to move beyond these basics and take a more proactive approach to next year’s return. Whether that means becoming more knowledgeable about your individual tax situation, or adopting a new planning strategy, it’s never too soon to get started.

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Topics: Tax Tips, tax strategy, tax planning

End-of-Year Tax Planning Checklist

Posted by Austin Walker on Apr 6, 2016 8:30:00 AM

Failure to do your tax planning before the end of the year can cost you money. There are methods you can follow to make sure that, come the end of the year, you keep your tax liability low and you maximize your potential outcome by preparing your write-offs and charity donations in advance. We've assembled a quick checklist for this and next year's tax preparations.

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Topics: Small Business, CPA, tax strategy, tax planning, tax liability