Article: Tax Reduction Tips
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Tax Reduction Tips
In the rush to get tax returns prepared and filed by April
15th, many overpay their taxes. Following are a few tax
reduction tips that could help you save a bundle.
Tax Credit For Starting A Small Business Pension Plan
Establishing a pension plan can help you retain important
employees. What many business owners don?t realize is a tax
credit can be claimed if the business has 100 or fewer
employees. Meet this requirement and you can take a tax
credit of up to $500 in each of the first three years of the
plan. Tax credits are extremely valuable because they are
deducted directly from the taxes you owe, not gross
revenues.
The credit is 50% of certain start up costs you incur in
each of the first three years. The cost...
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