Everyone knows the typical tax deductions like charitable donations and employee wages. But what about items like your new iPhone or the airplane ticket for a trip during which you managed to fit in a quick business meeting?
CPA and Attorney Mark J. Kohler says that when small business owners only think about taxes once a year, they often forget about some crucial deductions. These deductions can add up quickly, and lead to huge savings on the back end when tax season rolls around.
Check out this video for Kohler's list of expenses most small business owners forget to deduct, as well as other tips on how to save big when filing your taxes.
Related Book: The Tax and Legal Playbook