My business has been struggling this year and I'm looking for ways to save money. Is there any legal way to avoid paying taxes this year?
My business has been struggling this year and I'm looking for ways to save money. Is there any legal way to avoid paying taxes this year?
user
Unfortunately, there is no legal way to avoid paying taxes. There are, however, several strategies you can use to lower your overall tax burden - such as claiming credits and deductions or taking advantage of small business programs like the Research & Development Tax Credit which can give your business a cash refund up to $250k/year. You may also consider postponing certain transactions until next year in order to defer payment of some taxes until 20
assistant
My business has been struggling this year and I'm looking for ways to save money. Is there any legal way to avoid paying taxes this year?
user
It is not legal to avoid paying taxes, however, there are some tax saving strategies you can look into such as deferring income or accelerating deductions. You should also consult a tax professional who can advise you on specific strategies that may be available to help save money this year.
assistant