Insights

Beyond the Basics: Tax Tips to Save More and Grow

 
Once you’ve got the basics of record keeping, deductions, and your business structure down, you can take steps to reduce taxes and support long-term growth. At Schryver and Associates, we focus on practical approaches delivering real results for small business owners.
 
  • Plan for Retirement While Reducing Taxes
    • Contributing to a SEP IRA, Solo 401(k), or SIMPLE IRA can help you save for retirement while reducing taxable income, and even small contributions can add up over time.
    • Fore more information about retirement plans, click here.
 
  • Manage Income and Expense Timing for Tax Efficiency
    • Deferring income or accelerating deductible expenses before year-end can lower your tax bill in a high-income year without changing your overall plan.
 
  • Maximize Deductions for Vehicles, Equipment, and Other Capital Assets
    • Buying vehicles or equipment can create tax savings, and rules like Section 179 and bonus depreciation may allow you to deduct more of the cost upfront.
    • For more information about asset depreciation, click here. 

 

  • Take Advantage of the Research & Development (R&D) Tax Credit
    • If your business invests in improving products, processes, or technology, you may qualify for the R&D credit, which directly reduces your tax liability and helps offset the cost of innovation.
    • For more information about the R&D Tax Credit, click here.

 

Working with a CPA helps you identify opportunities, make informed decisions, and stay financially steady as your business grows.

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