Small Business Tax Deductions: Tips on Planning Ahead for Next Tax Season
Was your first question this tax season, “I owe how much?” If so, the first place to start is to identify what you can write off as small business tax deductions next year. With a little organization and planning, you can save a lot more money than you thought possible. You work hard to make your small business profitable and successful; planning ahead will ensure your business thrives now and in the future.
Small Business Tax Deductions
Is your business taking advantage of small business tax deductions? A deduction is a business expense that can be used to reduce your total taxable income. What expenses qualify for a deduction? According to the IRS, expenses that qualify for a deduction must be “both ordinary and necessary.”
The IRS further explains that “An ordinary expense is one that is common …
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Some currency pairs have what exactly is called an inverse relationship with another money pair. This means that whenever one pair is trending upwards, one other trends downward (and vice-versa). The example that is classic that associated with EUR/USD vs. the USD/CHF. This comes about because the The Swiss economy is closely tied along with the rest regarding the European economy. Additionally, there was the common element regarding the US buck in both pairs.
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