Lawmakers finally got it!
They realized that it takes time to grow a new business and that it may not generate tax revenue for a while.
So they put some extremely helpful rules into the Protecting Americans from Tax Hikes (PATH) Act of 2015.
If you are thinking about starting a new small business, you may be able to save a lot of money. But you have to know how to play the game.
We’ll show you how to come out a winner when you read my new article titled Tax Tips: Start-ups: New Bang for R&D—Save More as an S Corporation.
Three ways our fact-filled article can help you:
- You’ll learn how start-ups can use research and development credits to offset payroll taxes. That’s right. Your start-up can reduce your tax bill dollar-for-dollar, even if you don’t owe any income taxes. We’ll give you all the money-saving details when you read the full article.
- We’ll explain how your start-up can “double dip.” For starters, you can claim the credit against payroll taxes and also claim a full deduction for the payroll taxes you paid. And any unclaimed credits carry over so you probably won’t lose the credits! You’ll get the whole story when you read the full article.
- We’ll tell you why your choice of business entity can impact the amount of your credit. You can use this new payroll tax credit whether you operate as an S corporation, a C corporation, a partnership, or as a sole proprietorship. One of these business entities makes the most sense. We’ll tell you which it is when you read the full article.