Did the 2020 tax season leave you feeling blue? For many small business owners and independent contractors like yourself, the sting of the tax bite is just wearing off. Now is the perfect time to recoup and revamp your tax strategy for 2021. In this article we’re going to discuss three ways business owners can save on taxes in 2021:
‘Tis the season of giving and, as the end of the year approaches, it is also the time to make year-end tax saving moves. Regardless of the tax benefits, giving back to your community, especially after the devastating year we’ve had, can truly change people’s lives.
Year-end is quite possibly the most hectic time for small business owners. It’s a time of measuring how the business did the previous year and planning for the one ahead. In the midst of that, don’t forget you should also be making year-end tax moves to help reduce your tax bill to end the year as fiscally responsible as you possibly can.
Taxes are confusing enough for individuals, but when it comes to being an independent contractor, another layer of complexity is added. To make things a little easier come tax time, we’ve but together a list of the six questions you should ask your CPA.