{"id":145,"date":"2022-07-15T18:03:52","date_gmt":"2022-07-15T18:03:52","guid":{"rendered":"https:\/\/c1mdevsite.com\/braunability.com\/small-business-owners-should-consider-these-tax-benefits-for-2022\/"},"modified":"2022-07-15T18:03:52","modified_gmt":"2022-07-15T18:03:52","slug":"small-business-owners-should-consider-these-tax-benefits-for-2022","status":"publish","type":"post","link":"https:\/\/c1mdevsite.com\/mdctraining.ca\/small-business-owners-should-consider-these-tax-benefits-for-2022\/","title":{"rendered":"Small Business Owners Should Consider These Tax Benefits for 2022\u202f"},"content":{"rendered":"<div><img decoding=\"async\" width=\"768\" height=\"512\" src=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/07\/pexels-karolina-grabowska-4386366-scaled-e1657227254964-768x512-1.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"calculator with money - calculating finances\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" loading=\"lazy\" srcset=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/07\/pexels-karolina-grabowska-4386366-scaled-e1657227254964-768x512-1.jpg 768w, https:\/\/watershardy.com\/wp-content\/uploads\/2022\/06\/pexels-karolina-grabowska-4386366-scaled-e1657227254964-300x200.jpg 300w, https:\/\/watershardy.com\/wp-content\/uploads\/2022\/06\/pexels-karolina-grabowska-4386366-scaled-e1657227254964.jpg 800w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\"><\/p>\n<p><span data-contrast=\"none\">Small business owners know that taxes are a complex reality, with frequently changing rules. Fortunately, this year\u2019s changes came with great news of <a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/7-ways-small-business-owners-can-save-on-taxes-in-2022\" target=\"_blank\" rel=\"noopener\">tax deductions<\/a> and possible savings. This is a good way to help offset the struggle that small-business owners face post-pandemic.<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The first week of May was National Small Business Week in the U.S. The IRS used this opportunity to issue a news release detailing new and expanded small business tax benefits for 2022. Take time to learn how taxes for small businesses affect the bottom line. Also, some tax saving advice may help your business increase the amount of money you keep when filing your taxes. <\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"none\">Expert Tax Professionals at Waters Hardy\u00a0<\/span><\/b><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/h2>\n<p><span data-contrast=\"none\">If this idea overwhelms you and you\u2019re not sure if you qualify for some of these new tax advantages, reach out to <a href=\"https:\/\/watershardy.com\/services\/\" target=\"_blank\" rel=\"noopener\">Waters Hardy.<\/a> We are your expert small business tax resource. As well-trained and experienced tax professionals, we are proficient at tax law and compliance.\u00a0 Furthermore, we can quickly sort through your business expenses to find ways to lower your taxes significantly.\u00a0<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"none\">Small Business Tax Rate<\/span><\/b><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/h2>\n<p><span data-contrast=\"none\">The list of taxes is similar across business structures, whether they are small businesses or corporations. What is different is how small companies pay and their tax rate. Various factors determine your small business tax rate. These include your level of income, location, and business structure.\u00a0<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"none\">Income tax<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Self-employment tax<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Employer tax<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Estimated tax<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Excise tax<\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">Knowing how to file and what to pay in taxes can directly impact the success of your company. Just as important as knowing how much to pay is knowing what you don\u2019t have to pay. Therefore, we\u2019ll highlight some of the most overlooked money saving tips for small businesses. <\/span><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/p>\n<h2><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><b><span data-contrast=\"none\">Small Business Tax Deductions\u00a0<\/span><\/b><span data-ccp-props='{\"201341983\":2,\"335559739\":160,\"335559740\":210}'>\u00a0<\/span><\/h2>\n<h3><b><span data-contrast=\"auto\">Business Meal\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Starting in 2021, the IRS began allowing businesses to deduct the total cost of business-related food and beverages purchased from restaurants. In the past, companies had only been able to deduct up to 50% of the meal cost. However, if the food comes from a restaurant, it doesn\u2019t have to be eaten on the premises, so takeout and delivery count, too. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Dining with potential or established clients<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Snacks and meals bought for employees<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Company party catering<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">This full meal deduction will continue for the 2022 tax year, so make those reservations!<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h3><b><span data-contrast=\"auto\">Home Office Expenses\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><b><span data-contrast=\"auto\">Indirect expenses<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">If you have a workspace that is dedicated and used solely for work on a regular basis, you are eligible to deduct expenses related creating and maintaining that portion of your home.\u00a0<\/span><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">There are two ways to calculate your home office expenses.<\/span><span data-ccp-props='{\"335559731\":720}'>\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1080,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The easiest way to do this for your home office space is to take $5 per square foot, up to 300 square feet, and claim the total amount.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1080,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">Home office employees can also file using Form 8829, <\/span><i><span data-contrast=\"none\">Expenses for Business Use of Your Home<\/span><\/i><span data-contrast=\"none\">. This form helps calculate a percentage of indirect expenses such as insurance, real estate taxes, depreciation, mortgage interest, and maintenance and repairs.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Direct expenses<\/span><\/b><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/p>\n<p><span data-ccp-props='{\"134233117\":true,\"335559685\":720,\"335559739\":165}'>\u00a0<\/span><span data-contrast=\"auto\">Expenses directly related to work are often overlooked but are completely allowable deductions. The following are some examples but certainly doesn\u2019t include all possible allowances.<\/span><span data-ccp-props='{\"134233117\":true,\"335559685\":720,\"335559739\":165}'>\u00a0<\/span><\/p>\n<h3><b><span data-contrast=\"auto\">Office costs<\/span><\/b><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/h3>\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1800,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><span data-contrast=\"auto\">Rent<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1800,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><span data-contrast=\"auto\">Utilities- Electricity, water, heat<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1800,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"2\"><span data-contrast=\"auto\">Internet service<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1800,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"2\"><span data-contrast=\"auto\">Phone lines<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<\/ul>\n<h3><b><span data-contrast=\"auto\">Office equipment<\/span><\/b><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/h3>\n<ul>\n<li><span data-contrast=\"auto\">Laptops<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Desks<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Chairs<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Printers<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Pens<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Paper<\/span><span data-ccp-props='{\"134233117\":true,\"335559739\":165}'>\u00a0<\/span><\/li>\n<\/ul>\n<h3><b><span data-contrast=\"auto\">Travel<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props='{\"335559685\":1080}'>\u00a0<\/span><span data-contrast=\"auto\">The tax deduction rate for 2022 is $0.58 for every mile you drive for business purposes. Keep a log of your travel expenses to substantiate your mileage if the IRS asks for it.<\/span><span data-ccp-props='{\"335559685\":1080}'>\u00a0<\/span><\/p>\n<h2><span data-ccp-props=\"{}\">\u00a0<\/span><b><span data-contrast=\"auto\">Start-up Costs\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<h3><b><span data-contrast=\"auto\">Advertising<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><span data-contrast=\"auto\">This is the primary way you will bring brand awareness to your company. If you\u2019re an established business, you know firsthand the benefits of effective marketing. Therefore, you have probably already built the costs of advertising into your budget. However, this is not as easy to do when you\u2019re just beginning. The IRS has considered this by allowing startup businesses to deduct 100% of the costs of promoting and advertising a start-up.<\/span><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><\/p>\n<p><b><i><span data-contrast=\"auto\">Here are some examples of what marketing methods can be deducted.\u00a0<\/span><\/i><\/b><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">business cards<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">fliers<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">digital marketing\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">hiring someone to design a business logo<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">launch a company website<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">run a social media marketing campaign<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">sponsor a promotional event<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<h3><b><span data-contrast=\"auto\">Salaries and wages during training<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><span data-contrast=\"auto\">How is a business owner supposed to pay employees if they are starting out and the business is yet to take off? Fortunately, salary and wages at start-up are considered tax deductions. Also, training provided for new employees is also deductible. <\/span><span data-ccp-props='{\"335559685\":720}'>\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Classes<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Workshops<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Webinars<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Seminars<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Professional publication subscriptions<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Costs of business certifications<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<h3><span data-ccp-props=\"{}\">\u00a0<\/span><b><span data-contrast=\"auto\">Salaries and fees for start-up advisors, employees, or services<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">You might be able to write off the costs associated with hiring independent contractors or freelancers.\u00a0<\/span><span data-ccp-props='{\"335551550\":1,\"335551620\":1,\"335559685\":720,\"335559740\":259}'>\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"1\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><span data-contrast=\"auto\">Executives<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"1\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><span data-contrast=\"auto\">Consultants<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"1\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"2\"><span data-contrast=\"auto\">Professional service providers<\/span><\/li>\n<\/ul>\n<h3><b><span data-contrast=\"auto\">Travel<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Your travel expenses may be deducted from your business taxes if you travel for work.\u00a0<\/span><span data-ccp-props='{\"335551550\":1,\"335551620\":1,\"335559740\":259}'>\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Flights<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Hotels<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Meals<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Parking<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Tolls<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Train<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Rental Car<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<h3><b><span data-contrast=\"auto\">Health Insurance Premium Deductions<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Businesses with over 50 employees must offer health insurance. Small companies are not obligated to provide benefits but are incentivized to do so with a tax credit. Therefore, a tax credit is available to small businesses who provide health insurance benefits to their staff and have fewer than 25 full-time employees. This includes a reimbursement of up to 50% of insurance premiums that were paid by the employer. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">There are other requirements, and the help from a professional tax consultant can help determine if you are eligible to deduct these expenses.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"auto\">Waters Hardy Helps You Identify Your Deductions<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Paying obligatory taxes for small businesses can be challenging but knowing which deductions you qualify for can help maximize your income. The <\/span><a href=\"https:\/\/www.irs.gov\/publications\/p535\"><span data-contrast=\"none\">IRS<\/span><\/a><span data-contrast=\"auto\"> considers business expenses that are \u201cordinary\u201d and \u201cnecessary\u201d deductible. Additionally, figuring out if your business expenses fall into these categories can be complex and confusing, not to mention time-consuming. You don\u2019t have to do it alone!<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Working with a tax professional who can manage all your small business tax needs is a smart business decision. Specialists, such as the team at Waters Hardy, can help ensure that you claim every deduction possible to reduce your overall tax bill. Lastly, we can help boost your business profits with unparalleled attention, efficiency, and reliability. Schedule your free consultation today. <\/span><span data-ccp-props='{\"134233117\":true,\"134233118\":true}'>\u00a0<\/span><\/p>\n<p><span data-ccp-props='{\"134233117\":true,\"134233118\":true}'>\u00a0<\/span><span data-contrast=\"auto\">We offer a complimentary 20-minute call with one of our specialists to go over your current situation and questions.\u202f<a href=\"https:\/\/watershardy.com\/contact-us\/\" target=\"_blank\" rel=\"noopener\">Contact us today.<\/a>\u00a0<\/span><span data-ccp-props='{\"134233117\":true,\"134233118\":true}'>\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/watershardy.com\/small-business-owners-should-consider-these-tax-benefits\/\">Small Business Owners Should Consider These Tax Benefits for 2022\u202f<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/watershardy.com\/\">Waters Hardy and Co. P.C.<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Small business owners know that taxes are a complex reality, with frequently changing rules. Fortunately, this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-145","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small Business Owners Should Consider These Tax Benefits for 2022\u202f - MDC Training<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Business Owners Should Consider These Tax Benefits for 2022\u202f - MDC Training\" \/>\n<meta property=\"og:description\" content=\"Small business owners know that taxes are a complex reality, with frequently changing rules. 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