Lana Pol, president of Geetings, Inc., a trucking and warehousing company in Iowa, detailed what the 2017 Tax Cuts and Jobs Act (TCJA) have meant for her business.Tax savings created by the TCJA ...

For example, there are certain tax breaks and deductions that are afforded to small business owners and self-employed individuals that regular employees don’t get to take advantage of.

If you’ve been in business for more than a year, one shorthand way to estimate is to divide last year’s tax amount by your sales. Tip 2: Track all money in and out of the business.

Small business tax relief options owners should know now "Falling behind on payroll taxes is a far knottier problem than personal tax debt," warns Nik Agharkar, owner and managing member of Crowne ...

Stoy Hall, CFP and founder of Black Mammoth, shares how he’s helping small business owners leverage tax planning strategies—including entity optimization, deductions, and retirement accounts ...

11 Tax Deductible Expenses Small Businesses Can Claim 1. Rent Expenses. If you rent the property where you conduct your business, you might be able to deduct the rent expense from your business taxes.

Not all states impose all of the most common business taxes. Taxes in a few northeast U.S. states are higher than others. Eight states have no individual income tax as of tax year 2025.

But a lot of his tax cuts are set to expire at the end of this year, including income-tax relief and small business relief. If those tax rates rise, an economic boom is virtually impossible.

That's the standard deduction for 2025, the highest amount of income that, in most cases, doesn't carry the requirement to file a return. In turn, the business may deduct the wages as an expense ...

Lawmakers can keep the tax code fair by increasing the 20% small business tax deduction to 25% at the same time they reduce the corporate rate to 15%.This larger deduction means a small business ...