As a small business owner, you want to lower your financial burden to the IRS as much as possible each quarter. You do not want to have to spend most or all of your savings paying your taxes every three months.
To lower your burden, you can take advantage of deductions and exemptions that are available to small business owners. You can find out what those are and how to use them by hiring a tax consultant in Atlanta GA, to advise you.
Using Legal Exemptions
As a business owner, you may be allowed to use a variety of exemptions to lower your tax burden. These exemptions can include cost that you incur for hiring employees in certain age demographics. You may also get credits on your returns for hiring and keeping on staff people who previously received welfare or unemployment benefits.
You can find out how many exemptions that you can claim on your taxes by consulting with a tax professional. This accountant can tell you how much that you can take off your overall total legally.
Using Deductions
You can also lower that amount by using deductions for business costs. For example, you may be able to take off money for mileage or business supplies. You also may be able to deduct your utility costs from your taxes.
You can find out more about hiring a tax consultant, online. Contact Fricke & Associates, LLC today.
