Many small businesses manage their own books throughout the year and enlist a tax professional to assist them with filing their taxes only on an annual basis to help with year-end tax prep. Every small business is different and if you are a small business owner it is important to carve out some time to meet with your accountant to address any tax related issues that are specific to your industry or your particular circumstances.
Regardless of industry, many small businesses are eligible for tax deductions (keep your receipts!) including:
- Use of a home office
- Purchase of office supplies
- Mileage and use of your personal car for business purposes
- Depreciation of various assets such as furniture and computer equipment
- Software purchases
- Business travel, meals and entertainment expenses
- And more!
Also keep in mind that many small businesses should make estimated tax payments on a quarterly basis, and your Denver tax professional can assist you with coming up with these estimates to make sure you are exercising all of your eligible deductions while remaining compliant year-round.
There are 19 days left until the April 15th
deadline – Call us now for help with your Denver taxes.