TAX BREAKS | BIDaWIZ Blog

What Types of Travel and Entertainment Expenses Can You Writeoff?

By The BIDaWIZ Team on March 16th, 2012 at 2:00 pm

Some of the most significant expenses that small businesses can deduct relate to travel & entertainment. Unfortunately, the tax code doesn’t make it very easy for us to identify what we can & cannot deduct on our return. Read More.

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TAX BREAKS

Tax Deductible Commuting Costs That Can Benefit The Self Employed

By The BIDaWIZ Team on March 1st, 2012 at 4:00 pm

Taxpayers that run their own business and work from home for at least part of the time, may be able to deduct commuting costs. .

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HIRING, TAX BREAKS

When Is the Right Time To Start Hiring Again?

By The BIDaWIZ Team on February 27th, 2012 at 5:00 pm

The economy has shown some signs of stabilization with unemployment declining and new housing starts modestly rising. As such, many businesses experiencing growth have been anxious to hire again. .

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TAX BREAKS

What Small Business Tax Breaks Changed with the New Year?

By Susan Ladika on January 5th, 2012 at 1:30 pm

In 2008, Congress enacted a number of measures intended to spur business investment and keep money flowing in the economy. While President Obama's 2011 jobs bill was intended to continue providing incentives to businesses, many of the provisions were shot down by the Senate. .

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TAX BREAKS

The Self Employed Can Get a Big Tax Break From Retirement Savings

By The BIDaWIZ Team on November 29th, 2011 at 6:00 pm

As we head into the final month of 2011, now is the time to start acting on year end tax saving strategies. For those that are self employed or have a side business, the savings can be significant by contributing to a tax friendly retirement plan now or or before April 16, 2012. Read More.

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TAX BREAKS

Do I Qualify for the Small Business Health Care Tax Credit?

By Susan Ladika on November 3rd, 2011 at 6:45 pm

If you own a small business and employ fewer than 25 full-time equivalent employees, you may very well be eligible for the tax credit. It all depends on your employees' average annual wages, and whether you pay part of their health care coverage. If you meet specific criteria, you could be eligible for a tax credit of up to a maximum of 35 percent of your health care premium costs. The credit was adopted as part of federal health care reform legislation. .

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TAX BREAKS

The 2011 Small Business Tax Breaks Set to Expire, Unless…

By The BIDaWIZ Team on September 29th, 2011 at 3:00 pm

Year end is quickly approaching which means small business owners should be finalizing their tax planning strategies for December and into 2012. There are several tax benefits that may expire or be significantly reduced in 2012 but President Obama's proposed jobs plan could extend those breaks and more. .

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SALES TAX, TAX BREAKS

Are Sales Tax Holidays Good For Business?

By The BIDaWIZ Team on July 29th, 2011 at 1:00 pm

We’re heading into the back to school season which means sales tax holidays are just around the corner if they haven’t already started. Many states offer a sales tax holiday for back to school items during the first week of August. On the surface, these tax holidays (4 to 9% discount) sound great for both consumers and businesses. But, after careful analysis, the benefits may be somewhat temporary and not very good for the economy. Read More.

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TAX BREAKS

Small Business Tax Breaks & More On The Way

By The BIDaWIZ Team on January 28th, 2011 at 11:06 am

The tax reform proposed by President Obama during the State of the Union Address hinted towards additional business tax credits and the possibility of a lower corporate tax rate in the upcoming years. This reform would be in addition to the 2010 tax credits and deductions already available to businesses. Read More.

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