Wednesday, December 12, 2007

Top Year-End Tax Tips For Small Biz

Before the eggnog season gets into full swing, entrepreneurs would be wise to schedule one more sit-down with their tax advisers. There are some year-end moves worth making.

Tip No. 1: Defer income and/or accelerate deductions.

Business owners have much more control over the timing of income and deductions than individuals do, so manage your cash flow by taking advantage of this flexibility. Delaying December billing or accelerating deductions may slow down or eliminate collections this month, but it also moves those receipts into next year, thus deferring taxes on such income.

Read More Article...

No comments:

Outsource Bookkeeping Services Outsourcing Services