Small businesses are the lifeblood of any healthy economy. In New Jersey specifically, small businesses make up 99.6 percent of the total businesses in the state. In total, small businesses employ approximately 1.8 million people in the state, or 50 percent of the private workforce. These businesses, defined as having fewer than 500 employees, need […]
business taxes
5 Overlooked Small-Business Tax Deductions
Failing to claim all the small-business tax deductions you’re entitled to is like flushing money down the toilet. Deductions are a legal way to reduce the amount of business income that is subject to tax. Keeping good records is key to backing up the deductions, says Barbara Weltman, author of “J.K. Lasser’s Small Business Taxes […]
Tax Law Means New Choices For Small Business
As Congress debated a new tax law at the end of last year, Jerell and Elissa Klaver began revising their company’s plans for 2018. The Klavers crunched the numbers, estimating how a lower tax rate and bigger deductions on equipment purchases could help increase their sales of bath soaps and other personal care products. They’ve […]