Small Business Owners Can Save on Taxes by Deducting Business Expenses

Small Business Owners Can Save on Taxes by Deducting Business Expenses

Spokane Journal of Business

Small business owners engage in more aggressive tactics to mitigate their overall income tax burden by shifting personal expenses over to the business. Sometimes these tactics are advanced by the business owner’s own CPA to interpret tax code deductions liberally. Most understand the potential tax repercussions of improper deductions—the IRS coming for taxes due. Assume for the sake of the example that the expenses fall on the personal side, or they might be characterized as personal expenses.

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