As a small business owner, you are able to deduct some of your automobile expenses. If you use your car for business, or your business owns its own vehicle, you can deduct some of the costs of keeping it on the road. Mastering the rules of car expense deductions can be tricky, but well worth your while. Check out our Small Business Tax Tip for more information.
Certificate of Good Standing — 60 Second Business Tip
Many companies fail to comply with state taxes and other laws. One way to prove your corporation or limited liability company is in compliance with all state-required formalities or is authorized to do business in the state is with a Certificate of Good Standing. Check out our business tip for more information.
If you need more time to complete your business tax return, you can request an extension to file your return. However, you must estimate how much you owe (if you owe) and send in that amount by the due date. Check out our Small Business Tax Tip for more information.
Small business owners are usually so preoccupied with getting their business off the ground that it is easy for them to overlook ways they could protect themselves and their businesses from falling prey to unavoidable circumstances. Check out our business tip for more information.