The saying goes there are only two things certain in life – death and taxes. It is difficult to find anyone who likes thinking about either. While you cannot do anything about death, you can certainly find ways to, at least, lower the taxes you need to pay to the government. As a small business owner you have number of things to worry about and keeping track of all the possible tax deductions you can take should not be one of them. This is what you hire accountants and financial planners for. However, it is your responsibility to understand what taxes your small business can claim so that you can plan your expenses accordingly. Below we discuss three tax deductions many small business owners usually forget to pay attention to. Study them to ensure you don’t overpay your taxes.
