Yahoo TV Tax tips for small business owners
Small business owners have undoubtedly faced various challenges in the past few years. Fallout from the Covid-19 pandemic has created a challenging economic environment, significantly impacting their bottom lines. However, there are tax credits and deductions that could help alleviate some of the financial burden on small business owners.
One of the top tax credits available to business owners is the Employee Retention Credit (ERC), which is a pandemic-era credit established to help employers bring back their employees during this time. Small-business owners who qualify could claim up to $26,000 per employee, and they have three years from their original tax return to retroactively claim this credit.
Curious to know what other tax credits are available? Yahoo Finance’s Rebecca Chen shares three top tax tips for small business owners filing their 2022 tax return.
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