Originally published on Blogprocess.com A great deal of responsibility rests on the shoulders of the small business owner. With finite resources, and with expenses ranging from tax bills to health insurance, the small business owner needs to try every trick in the book to maintain positive cash flow. No matter what your finances are like, it’s always important to be careful about every dollar you spend. Gary Brewster, Oneida, Tennessee businessman with over 25 years of experience explains below 6 essential areas where a business owner can save money and ensure their company stays in the black. 1. Save money on health insuranceWhen you’re self-employed, your health insurance premium is one of your most significant expenses. Fortunately, there are ways to save on this business cost. One of the most significant areas of saving comes from your ability to deduct your premiums on your tax returns. There are a few caveats to keep in mind, however, before you attempt to write off a premium:
If you often work from home, you can set aside an area that exclusively serves as your home office. When you do this, you will get to deduct a portion of your mortgage and utilities bills on your taxes, in proportion to the space that you use. Whether your home office qualifies for such a deduction, is a complicated question. Checking...Read More
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About UsGary Brewster of Oneida, TN has led an impressive career as a successful business owner in his 25 years working in the commercial roofing industry in Oneida, Tennessee. He is a trusted business leader who diligently helps customers solve any roofing issues or concerns. Through his commitment to growing successful businesses in the community, Gary has also invested in other industries such as Brewco LLC., TN KY Pawn, and T&T Car Wash. ArchivesNo Archives Categories |