Small Business Tax Strategies

Smart small business owners save thousands of dollars per year on their personal and business taxes by taking advantage of the legal loopholes that the government creates for their unique tax situation. Small Business Tax Strategies cuts through tedious tax code to reveal the bonanza of completely legal opportunities to grow personal wealth and secure an enjoyable retirement.  Learn more about Small Business Tax Strategies and the two free reports you’ll get when you subscribe...

Time is running out on a tax break for some small biz owners. The IRS notes that self-employed individuals have until Oct. 15, 2009, to carry back a net operating loss (NOL) from calendar year 2008 for up to five years instead of the usual two years. (IRS Information Release IR-2009-72)

This maneuver is available only if you had average annual gross receipts of $15 million or less for the past three years. The deadline for calendar-year corporations was Sept. 15, 2009 (dates for fiscal-year businesses vary).