Uncover affordable secrets saving small businesses thousands annually
Exploring Tax Credits and Incentives
Many small businesses overlook available tax credits and incentives that can reduce their tax liability. Research federal and state programs that offer deductions for activities like research and development, energy efficiency improvements, or hiring from certain demographics. For instance, the Work Opportunity Tax Credit (WOTC) can provide substantial savings for businesses that hire veterans or individuals from other targeted groups1.
Consulting with a tax professional can help ensure you're taking full advantage of these opportunities, potentially saving your business thousands each year.