Small business tax deductions are one of the best ways to reduce your taxable income and save money on your taxes. But do you know what expenses you can deduct and how to claim them? In this article, we will explain the basics of small business tax deductions and give you some tips on how to maximize them. What are small business tax deductions? A tax deduction is an expense that you can subtract from your gross income to lower your taxable income. For example, if you earned $50,000 in 2023 and spent $10,000 on deductible business expenses, your taxable…
