Tax Tips

Hello Again!January through April can be a stressful time for any business owner, even with an accountant. Sorting through documents and filing taxes is a hassle, especially if you’re unaware of filing changes.

Below are some of the key tax filing changes that could impact your business. Be sure to consult with your tax professional as to how they may impact your business.

  • If you’re a small business owner in the highest tax bracket, the tax rate for long-term capital gains dropped from 20% to 15%.
  • The tax rate for the top federal wage increased to 39.6% from 35%.
  • Business owners can claim a home office deduction valued at $5 for every square foot (up to 300 square feet). To file for this deduction, you will only have to fill out one line (rather than a 43-line form).
  • There is new Medicare tax on investment, adding an increase of 3.8%.

During tax season, make sure to do some “spring cleaning” as well. Go through your contact and employee databases and clean up old records. It’s also the perfect time to structure your file keeping and organization processes!

If you need additional time to file your taxes, it’s easy to request an income tax extension. Don’t risk missing deductions or making mistakes.

Get New Equipment: $150,000 Application Only ProgramOne of the top reasons businesses don’t secure new equipment is because they don’t want the hassle they expect by financing with their bank.

No need to worry – our $150,000 Application Only Program is designed for businesses that want to secure the new equipment they need, but don’t want to deal with the approval process hassle they expect.

We make it easy. Just provide a completed and signed application and your last three (3) months bank statements.

24 hours from now you could be getting a confirmation on your next equipment order!

Invest in new equipment this season to take your business to the next level. Call us today to get things started!

Want to get in touch with a member of our team? Visit our team webpage to find our detailed contact information or simply reply to this email.