Small Business Strategy Development Cleveland
Small Business Strategy Development
How we can help you?
Are you a small business owner or you’re looking to start one soon? You’re probably worried about how much your financial future would look like and one thing you’ll always want to avoid is unnecessary income loss and taxes.
At Yonah Tax, we help you with filing for your local, state and federal taxes while applying the right tax-saving strategies to help you with your tax liability. We ensure that you take advantage of all the legally available deductions available for you.
With property taxes, unemployment insurance, sales and use taxes, zoning taxes, corporation taxes and all other forms of taxes to worry about, you need an expert to handle it all for you.
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Why Should You Get A Tax Strategy As A Small Business?
- It offers you insights on how to reduce your taxable income.
- It helps you get a lower tax rate.
- It helps you claim all the possible legal deductions you can.
- It helps you avoid tax planning mistakes that could arise from not having a strategy.
- It helps you know the most favorable time to pay tax.
Small Business Strategy Development
Some Key Tax Strategies That Work
Income Projections
It is important to do correct income projections that help us to recommend the right tax strategies for you. Income projections are necessary so we can determine your appropriate tax brackets and the benefits that you can get.
Business Expenses Maximization
One way to lower your tax bills is to maximize business expenses that could qualify as deductions. One of those expenses is business meals and to qualify, both the business purposes and environment have to tally. It is important to keep these records as they have an impact on the amount of deductions.
Automobile Deductions
Cost of operation and maintenance of vehicles used for business purposes can almost be claimed as deductions. Costs can be claimed on multiple vehicles if you have them. These expenses can be deducted through the standard mileage rate or the actual incurred expenses. Keeping these records is important to claim deductions.
Home Office Deductions
When you work with a home office, it can be tricky to claim deductions but at the end of the way, it's worth it. Always use your home address on business cards, log phone calls in, keep invoices and receipts etc. You're well on your way to getting the maximum tax benefits. There are other small basic deductions like arm card fees and business travel fees that we help you claim to ensure that
