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Small business tax credits and deductions you should know about

BMT Office Administration

And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. For 2023, you can deduct up to $1.16 In 2023, this amount is $2.89 Congress routinely showers small businesses with tax preferences. Your taxable income.

Payroll 98
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. Medical and health care payments.

Payroll 52
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year.

Finance 105