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Christian InTech Articles - Small Business

 

 

Informative Articles

PR: Focus on What Matters!
Sure, as a manager, you have a talented member of the PR team assigned to your department, division or subsidiary, or housed at your agency, and s/he is darn good at placing product and service plugs on radio and in the newspaper. Which may be all...
Small business credit cards
A lot of people associate credit cards with just personal credit card which an individual posses and uses for shopping etc. However, there is another category of credit cards and that is called small business credit cards. As suggested by the...
Small Business Credit Cards: Reap The Rewards!
Are you looking to finance some of your small business related expenses? Did you know that small business credit cards can help you afford many of your business expenses? In fact, small business credit cards not only help you pay for business...
The Ecology of Environmentalism
The concept of "nature" is a romantic invention. It was spun by the likes of Jean-Jacques Rousseau in the 18th century as a confabulated utopian contrast to the dystopia of urbanization and materialism. The traces of this dewy-eyed conception of...
Tips for Increasing Your Profits with Gift Certificates
Offering gift certificates is an excellent way of increasing your sales by solving your customers' gift-giving problems. Often people would like to give your products as gifts, but are hesitant to choose a specific item for someone. I'm a...
 
Top 7 Small Business Tax Tips

Here are seven ways for owners of small businesses to save money on their taxes.

1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well.

2. Be Home Based: If possible, continue (or switch to) being a home based business. Not only will you keep your overhead down, but you will be able to write-off (or deduct) the business use of your home.

3. Income Split: Pay reasonable wages to your spouse and children. In this way, you can legally divert income taxed at your higher rate to your family members that are in a lower tax bracket.

4. Rearrange Your Affairs For Maximum Tax Savings: Can you make some changes to turn your hobby into a moneymaking business? Can you use that extra room in your house as a home office for your business? Can you arrange to use your car more for business purposes? Can you arrange for more of your entertainment expenses to be business related?

5. Document Your Expenses Well: Do you document your expenses


well so that they would survive a tax audit? Have you kept a mileage log so that you can prove the percentage business use you claim for your vehicle? Have you kept receipts for all your entertainment expenses and listed the business purpose on the back of each receipt?

6. Be Punctual: File all returns and pay all taxes due (income, payroll, sales, et cetera) on time. This way, you avoid expensive late filing (and payment) penalties and interest.

7. Develop a Tax Planning Mindset: Some people only worry about their taxes during tax season. However, you will save a fortune in taxes, legally, if you make tax planning your year-round concern. Do you make business and personal purchases, investments, and other expenditures with tax savings in mind?
About the Author

J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. For more information about income tax savings and other profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/income-taxes.html