As a small business owner, it’s absolutely critical that you understand what’s meant by the “tax gap,” so today I’ll do my best to explain what it means and why it’s important.
What’s the tax gap?
The tax gap is the difference between what the IRS thinks taxpayers should be paying in Federal income taxes and the amount [...]
What business expenses can I deduct on my tax return?
Where do I take the deduction for…(fill in the blank)?
What records do I need to prove the deduction?
Those are the most popular questions I get from small business owners this time of year.
Starting today and continuing through the end of this year’s filing season, I’ll be answering [...]