Though taxes are complicated but best practices have a great impact on your bottom line. 90% of US businesses, according to Forbes, overpay their taxes! Since taxes are based on profits, the more you spend on your business the more you would save on taxes. There are various ways in which one can save money on taxes like if the business requires to pay for the clients’ entertainment, meals or whether it requires travel. One can also save on taxes if one has a home office. This blog enlists smart ways to help one save taxes and explains how costs and expenses affect taxable income.
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