April 2, 2013 by sbotkin
By: Sandy Botkin, CPA, ESQ.
There is only Â two ways to save on taxesâ€¦1.) donâ€™t make any money or 2.) start your own business Â
For those of us who want to make money number one isnâ€™t an option. Option two can be a scary step if you feel more secure working for somebody else. If you are still on the fence about starting your own business you are probable losing thousands of dollars every yea. Tax deductions are designed to benefit the business owner not the employee. Â Some of you may be thinking about starting a business but arenâ€™t ready to give up the security of working for somebody else, well the good news is you can take advantage of additional tax savings even when you start a part-time company. You just need to get started. Starting a business earlier in the year gives you more opportunity to take advantage of the tax deductions available to business owners.