Daily News | Want To Cut Your Company’s Tax Bill This Year? Do This One Thing.
If you’re running a small business your taxes certainly aren’t going to go down in the foreseeable future. If anything, they’ll likely rise.
That’s because when you offer more compensation and benefits to your workers you take advantage of some very generous federal deductions and credits available to help lower your overall tax bill. So why give more than you need to the government, when you can give that money to the people who really matter most to your business, right?, you can deduct up to $5,250 of the expense - and they don’t get taxed. That’s for each employee.
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