5 smart tax moves if you run your own business [CNBC]

Alas, the deadline to file 2015 taxes is fast approaching. But for savvy business owners, the prep work for next year’s taxes is just beginning.

“There’s always some missed opportunity on deductions for small business owners,” said John Wheeler, a CPA and senior financial consultant at Castle Wealth Advisors in Indianapolis.

From tracking the miles you drive to wrangling receipts, here are five key moves business owners should make to take the sting out of tax time next year.

  1. Keep your business and personal accounts separate
  2. Follow expenses and taxes as you go
  3. Claim your home office deduction — the right way.
  4. Track miles driven in your car
  5. If you have an open position, consider hiring a family member

Curated from 5 smart tax moves if you run your own business [CNBC]

More Posts Across the Web

The Uber business model loses some of its sheen [CNBC] – But the era of cheap money is easing as valuation expectations adjust. Some start-ups have discreetly cut staff. IPOs remain weak. And it turns out the Uber business model — this broad idea that any sector might be disrupted by an army of freelancers, overlaid across a mobile platform — doesn’t necessarily translate.

5 Ways to Save On Business Expenses [Huffington Post] – Let us together explore the top 5 ways to save on business expenses, because honestly, who wouldn’t want to save more money on business expenses?

We find the best business content so you don’t have to! 

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

eleven + four =

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
We're 20,000+ CBNation Members Strong & GROWINGJOIN FOR FREE
+ +