As a small business, filing your taxes properly can help you to save a lot of money. Therefore, it is very important that you keep an accurate record of your business expenses. So, you will need to save all your receipts. These receipts are what you will use to back up your claims when you are completing the various forms to file to the Internal Revenue Service or IRS. This is especially important when it comes to the authentication of the deductions that you can take as a small business.
It is very important that you consult with an advisor or an account before you make the claim for certain deductions. This is to double check and ensure that you are qualified to take these deductions. Despite the overhaul of the Tax Cuts and Jobs Act, small businesses are still very fortunate in the fact that they still have quite a few deductions that they can claim. Here you will find some of the top tax deductions for small businesses for the year 2019.
