ZARZA We are Zarza, the prestigious firm behind major projects in information technology.
Listen "The Difference Between Tax Deductions & Tax Credits"
Episode Synopsis
Happy Tax Tip Tuesday!!!
Business tax credits and tax deductions can both help reduce your tax liability, but they work in different ways. Here's the difference.
1. Business tax credits: directly lower your tax bill by the amount of the credit.
2. Business tax deductions: reduce your total taxable income.
The main benefit of business tax credits and deductions is to reduce your tax liability, which can help increase your cash flow and lower your tax bill.
This can be especially helpful for small businesses or startups operating on tight margins.
Additionally, tax credits and deductions can incentivize certain behaviors, such as providing health insurance to employees or investing in renewable energy.
Business tax credits and tax deductions can both help reduce your tax liability, but they work in different ways. Here's the difference.
1. Business tax credits: directly lower your tax bill by the amount of the credit.
2. Business tax deductions: reduce your total taxable income.
The main benefit of business tax credits and deductions is to reduce your tax liability, which can help increase your cash flow and lower your tax bill.
This can be especially helpful for small businesses or startups operating on tight margins.
Additionally, tax credits and deductions can incentivize certain behaviors, such as providing health insurance to employees or investing in renewable energy.
More episodes of the podcast Keeping You In The Know With Tax Tips for Small Business Owners
Reg Flags that can Cost you
03/08/2024
5 Tax Mistakes Small Business owners make
25/07/2024
Do you have the correct NAICS Code
04/07/2024
Tax Benefits of Hiring your Kid
12/06/2024
Hiding Tax Saving GEM ‼
22/09/2023
3 Tax Tips for New Small Business Owners
31/08/2023
"Keeping you in the know
23/08/2023
3 Things needs to Grow your Business
07/06/2022
In God we trust