Episode 26: Mastering Year End Small Business Taxes While Navigating the 'One Big Beautiful Bill'
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Can you afford to ignore the game-changing tax shifts coming your way? This episode Eric goes solo to break down the seismic changes introduced by the "Big Beautiful Bill" that could transform your small business's financial strategy. He dives into the end of electric vehicle tax credits, the allure of permanent bonus depreciation, and the boosted credits for employer-provided childcare. He also clarifies how the IRS categorizes small businesses, revealing that many of you might be eligible for these benefits without even realizing it.
Proper tax filing has never been more crucial, and there's a playbook to guide you. Listen as Eric highlights the importance of meticulous record-keeping, particularly with the upcoming increase in the 1099 threshold, and how this impacts compliance. Learn how to maximize your tax benefits through effective strategies like bonus depreciation, and understand the importance of providing detailed financial reports to avoid IRS complications. Whether you're a seasoned entrepreneur or just starting your small business, these insights, paired with professional advice, will ensure you're fully equipped to navigate these changes and keep your small business thriving.
To learn more about Busy Bee accounting and services, or to simply connect with Eric or Melissa, find them at Busy Bee Advisors.
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