Year-end tax planning in 2016 is as important as ever for startup and small businesses. With tax reform on the agenda in 2017, it is valuable to review your tax situation before the end of 2016 to take advantage of many tax breaks – while they still exist.
In a recent EQ Magazine article, Todd Reich, Tax Manager, discusses how the following tax strategies can benefit startups and small businesses:
- Timing income and expenses
- Tax credits for research and development (R&D)
- Section 179 expensing elections
- Bonus depreciation for capitalized assets
If you have questions about year-end tax planning for your startup, contact Todd Reich at 314.983.1296 or firstname.lastname@example.org.
Brown Smith Wallace launched its second annual St. Louis Startup Community Survey in November. Click here to take the survey.