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Tax deductions are specific expenses that the IRS allows you to subtract from your gross income, thereby lowering your taxable income. These deductions are crucial for small businesses as they can lead to substantial tax savings. However, many business owners miss out on deductions simply because they arenu2019t aware of whatu2019s available.<br>
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Maximizing Small Business Tax Deductions with Custom Accounting CPA
Running a small business comes with many responsibilities—one of the most important being managing taxes efficiently. At Custom Accounting CPA, we specialize in helping small businesses uncover valuable tax deductions that can significantly reduce their taxable income and improve overall financial health. Understanding Tax Deductions Tax deductions are specific expenses that the IRS allows you to subtract from your gross income, thereby lowering your taxable income. These deductions are crucial for small businesses as they can lead to substantial tax savings. However, many business owners miss out on deductions simply because they aren’t aware of what’s available.
Common Small Business Deductions Custom Accounting CPA ensures clients take full advantage of deductions such as: Home Office Deduction: If part of your home is used exclusively for business, you may be eligible for a home office deduction. Vehicle and Travel Expenses: Business mileage, travel for work purposes, lodging, and even meals (within certain guidelines) can be deductible. Office Supplies and Equipment: From paper and pens to computers and printers, these necessary tools are tax-deductible. Professional Services: Fees paid to lawyers, consultants, and, of course, accountants, are considered business expenses. Employee Wages and Benefits: Salaries, bonuses, and employee health benefits may all qualify for deductions.
Why Choose Custom Accounting CPA? Navigating the ever-changing landscape of tax law can be challenging. That’s where Custom Accounting CPA steps in. Our team stays up to date with the latest IRS regulations and tax code updates to ensure you’re maximizing deductions without triggering audits or penalties. We go beyond simple tax filing—we strategize with our clients year-round to build custom tax plans tailored to their business needs. Whether you’re a sole proprietor, LLC, or S-Corp, we can help you uncover hidden savings and improve your bottom line.
Let’s Talk Savings Don’t leave money on the table. Let Custom Accounting CPA guide you through the complexities of small business tax deductions. Contact us today to schedule a consultation and discover how smart tax planning can benefit your business year after year.
Contact Us Custom AccountingCPA 15thFloor,3Columbus Circle NewYork,10019 USA 646-661-2010 natalya@customaccountingcpa.com https://www.customaccountingcpa.com/