Tips to Lower Your Small Business’ Tax Bill

A small business can often be surprised by high tax bills. Here are some tax saving tips to help you keep these costs down:

If a business has $2 million or less in revenue, it can deduct up to $500,000 in "qualified capital expenditures." These expenses include software, computers, office furniture, and more.

The cost of liability, malpractice, workers’ compensation, and some other types of business insurance can be deducted.

Donations to qualified charities can sometimes be written off. This isn’t limited to cash – you can also write off merchandise and services given to charity. Check with an accountant for the details.

Tax deductions for hiring people with disabilities and qualified veterans were extended through 2013. Each veteran can bring in a deduction as high as $9,600.

Along with these common deductions, you should also note that some typical business expenditures can also be written off. These include advertising expenses, lease payments, and many other things that can be considered costs of doing business. Of course, you should consult a qualified tax professional to be sure. Many things are deductible, but there are exceptions to the rule.

To get a quote on business insurance of any kind in California, please contact the Lloyd S. Berkett Insurance Agency in Los Angeles.

11150 W. Olympic Blvd.
Suite 1100
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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November 27, 2013


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The Lloyd S. Berkett Insurance Agency, Inc. was founded in 1946 by Lloyd S. Berkett. Regarded as one of Southern California’s most successful, well-respected and innovative independent insurance agencies, ... Read More

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