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NEWITY | 3 Tax Strategies to Get Ahead

Michigan Business Network: tax

MBN: NewityAs Q4 rolls on, it’s the perfect time for small business owners to get ahead of tax season. Strategic tax planning now can help you avoid costly mistakes and maximize your deductions later.

Here are three key tips to keep your business financially fit:

  1. Track Expenses Diligently
Every business-related expense can add up to valuable deductions. Use accounting software or apps to categorize and track expenses in real time.

  1. Review Your Entity Structure
Your business structure (LLC, S-Corp, etc.) affects how you’re taxed. If your business has grown or changed, it might be time to revisit whether your current setup is still the most tax efficient.

  1. Plan for Estimated Taxes
Avoid penalties by making quarterly estimated tax payments. If your income fluctuates, work with a tax advisor to adjust your payments accordingly.

Don’t wait until January. Start organizing your financial documents now. A little prep today can save you a lot of stress tomorrow.

Interested in securing funding for your end-of-year projects? Apply now to find out how much you could qualify for in just 10 minutes!

Apply Today

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