Tax Tips for small businesses

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Take the credits you are due

In addition to deductions, there are many credits that can whittle down your tax bill if you qualify for them. One example is the small-business health care tax credit, which can currently be up to 35 percent. There is also a tax credit for business owners who hired qualified unemployed veterans who began work after Nov. 22, 2011, but before Jan. 1, 2014.

Consult your CPA

Does navigating the tax rules sound complicated? Your CPA can help. Turn to him or her with all your questions about the tax or other financial issues that affect your business. To find a CPA in Pennsylvania by location or area of expertise, visit www.ineedacpa.org.

 

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