Savings Plan

75. Dine at a discount . . . dis-creetly. Use discount dining cards, such as Schaumburg, Illinois-based Dining á la Card. You can save 20 percent at restaurants nationwide without showing coupons or cards at the restaurant; instead, you get a monthly refund check in the mail.

76. Waste not. Don't throw away your old computers and office equipment. Donate them to a nonprofit organization or school and get a tax write-off.

77. Give what it takes. Business owners can take a 100 percent write-off of each business gift up to $25. Compare that to the 50 percent write-off for business meals and entertainment, and gift-giving has never looked better. Itemize any gifts-including the name of the recipient and the general nature of your business with that person-and remember that husband and wife are treated as one recipient, advises Crouch.

78. Mind some petty pointers. Don't get careless about your petty cash account. "Though you don't need receipts for expenses under $75, you should still track these expenses since they can add up," advises Crouch.

79. Hire your children. If your children are at least 14 years old and pay their own taxes, it pays to take advantage of their lower tax bracket. "You can essentially transfer income from your business to them [to save money]," says Scott.

80. Take a stand on taxes. If your business is new in the neighborhood, you may be at a higher tax rate than those who have been there longer. "Go to city hall to determine what your neighbors are paying, and use this to negotiate a better rate," says Collins. "Expanding businesses can often negotiate with community authorities, who want them to stay in town rather than move and take jobs elsewhere."

This article was originally published in the February 1997 print edition of Entrepreneur with the headline: Savings Plan.