In order to help our Shoeboxed users find the kind of business deductions that can get lost in small business limbo, we asked one of our newest customers to share some of her small business tax secrets. Melissa from Virginia runs a small online marketing startup that is still in its first year of business. Here are her tips for making the most of your small business deductions.
As the East Coast continues to recover from the devastating effects of Hurricane Sandy, the last thing on many small business owners’ minds is business deductions. We’ve all been reminded how swiftly unexpected events can turn our lives – and the lives of our businesses – upside down. When bad things happen, whether they’re natural disasters, bad debts, or ill-advised investments, small business owners may feel like they’re ruined.
But don’t lose hope, small business rock star! Believe it or not, Uncle Sam is there for you when things go wrong. Some of your worst nightmares actually qualify as business deductions. Hey, who ever said there’s no silver lining?