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Tax Breaks: The Commit To Your Small Business Edition

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Plus: Business basics, small business loans, deducting business meals, estate and gift tax treaties, corporate reorganizations, filing deadlines, tax trivia, and more.
The article "Tax Breaks: The Commit To Your Small Business Edition" by Kelly Phillips Erb, published on Forbes on June 7, 2025, discusses various tax incentives and deductions available to small business owners to help them grow and sustain their operations. It highlights the importance of understanding and utilizing tax credits such as the Small Business Health Care Tax Credit, which can offset the cost of providing health insurance to employees, and the Research and Development (R&D) Tax Credit, which encourages innovation by allowing deductions for qualified research expenses. Additionally, the article covers the Work Opportunity Tax Credit, aimed at businesses that hire individuals from certain target groups facing employment barriers. Erb also emphasizes the significance of keeping meticulous records to maximize these benefits and advises consulting with a tax professional to navigate the complexities of tax law and ensure compliance while optimizing savings.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/kellyphillipserb/2025/06/07/tax-breaks-the-commit-to-your-small-business-edition/ ]