Business Owners Offered Broad Slate of Deductions

Richard Battle, CPA

This article was published in the Charlotte Business Journal on February 12, 2010.

This tax year presents new challenges and new opportunities for business owners. You are likely questioning how the increasingly confusing and ever-changing tax laws will affect you and your business. Couple this with the impact of the recent economic slowdown and it’s no surprise that savvy business owners are looking for ways to reduce tax liabilities and preserve cash balances. There are several new or expanded deductions and other incentives that, depending on your specific situation, may help reduce the overall tax burden of your business for 2009 and 2010.