Top 20 tax deductions for small business
from Small Business Trends
On Wall Street, there's a saying that past performance is no guarantee of future results. When it comes to taxes, however, past performance is a great indicator of the types of deductions that businesses typically take each year. Last winter the IRS released data on Schedule C filers. Here are some of the most popular tax deductions for small business that were claimed by sole proprietors as determined by the dollar amounts, starting with the largest category. The same types of deductions can be claimed by other entities — C corporations, S corporations, partnerships and limited liability companies (although there may be slightly different rules for some deductions).
7701 Las Colinas Blvd., Ste. 800, Irving, TX 75063