November 26, 2025

As the end of the year approaches, most business owners are busy wrapping up projects, closing out the books, and preparing for the new year. But there’s one more important task that shouldn’t be overlooked: making strategic year-end purchases that can reduce your taxable income and strengthen your business for the months ahead.  Many entrepreneurs miss out on valuable deductions ...

June 16, 2025

Credit card rewards can feel like a win, especially when you're running a business and looking for ways to cut costs. But when tax time comes around, things get a little tricky. Are those rewards considered income? Do you need to report them? A recent survey found that more than two-thirds of small business owners use credit card rewards to support their business, but many aren't sure how it affec...

June 9, 2025

Yes, some business credit card payments are tax deductible, but not in the way most people think. You can’t deduct the full amount you pay to your credit card company. What you can deduct are the actual business expenses charged to the card, like travel, supplies, or software. Interest payments, annual fees, and certain service charges may also be deductible, depending on how the card is use...

January 28, 2022

Business owners experience many perks, such as boosting your tax refund while lowering your taxable income with write-offs. The IRS allows businesses to deduct expenses that qualify as "ordinary and necessary" to reduce taxable income, thus saving your business money at tax time.   Before we get into what you’re able to write off, you must first understand what a write-off is and h...

January 21, 2022

In addition to paying their employees, business owners must oversee key aspects of their tax obligations. Managing this task can be difficult, but with proper guidance, it becomes easier. Once you hire your first employee, you are responsible for payroll taxes. Payroll taxes refers to all taxes paid on the wages of your employees. You will be required to deduct a portion of employee wages to pay c...

January 14, 2022

Unique from any other business structure, corporations are the only type responsible for paying their own income taxes. With this being true, how does it work, and how do business owners ever profit from structuring as a corporation? To answer these, you must first understand the different types of corporations and their tax structure. C-Corporation vs. S-Corporation A C-Corporation is what most p...