Did you miss the March 15 business tax filing deadline? Did you get an extension on your small business taxes this year? Well now you have several months until the final deadline on October 2, 2017. Let us help by letting you in on a few credits and deductions you could make on your business taxes.**
Did you know that if you went “green”, hired a veteran, or started a company last year you might be eligible for three important but little known tax deductions?
Small tax deductions and credits take a little extra work, but your savings can really add up. Every dollar counts when it comes to running a veteran small business. We’ve compiled some resources of available credits and deductions your business may qualify for:
Does going green put more green in your wallet?
Going green or becoming a more environmentally-friendly small business makes sense (and dollars). Government agencies offer a variety of tax credits, rebates and incentives in support of renewable energy sources, such as the ones listed on the SBA’s website.
What if I hired a military veteran?
We strongly believe that veterans are a valuable asset to any business. They are dedicated, tenacious, hardworking, and have skills from the field that translate directly into building a business. They make great entrepreneurs, too. If you’ve hired a Veteran recently, you could qualify for tax credits, according to Military.com.
The Hire Heroes Act that came out in 2011 applies to businesses who hire eligible veterans by providing a Work Opportunity Tax Credit (WOTC). Eligible veterans include short-term and long-term unemployed veterans, veterans with disabilities connected to service, and long-term unemployed veterans with disabilities connected to service.