10 Tax Deductions for Small Businesses and the Self-Employed

small business tax deductions

You’ve heard the expression “leaving money on the table,” right? It means you’re not getting as much money as you could. And it’s unfortunately what a lot of small businesses do when they don’t get all of the tax breaks that they’re eligible for. This is money that can be put right back into your business to help it grow and prosper. Below ... More >

Where You Should (and Shouldn’t) Start a Small Business

2017 tax climate

If you’re looking to start a small business, it pays to know which states are and aren’t optimal to do business in. According to the Tax Foundation, a Washington, D.C. based tax research group, below are the 4 best and 4 worst states to do business in for 2017. The Good Wyoming Wyoming earns the top spot, in large part to the state ... More >

President Trump Proposes 20% Corporate Tax Reduction

Presidential corporate tax plan

One of President Trump’s campaign promises was to lower the corporate tax rate that businesses are required to pay each year. His proposal is to cut the corporate tax by 20% (from 35% to 15%) for businesses across the board—from large corporations to smaller pass-through entities (i.e. LLCs and S-Corporations). The President’s proposal has not ... More >

Republican Business Tax Overhaul on the Horizon

proposed tax overhaul

As the new Republican-controlled U.S. Congress gets up and running, Republican Senators and Representatives are gearing up to overhaul the current American tax system. This overhaul has the potential to reach every citizen at every level of income and/or business size. According to Republican leaders, the goal of this overhaul would be to ... More >

Tax Foundation Ranks Top Business-Friendly Tax States

US dollars in shape of New Jersey: MaxFilings Business Taxes Blog

The Tax Foundation is a nonprofit organization focused on the education of taxpayers, policymakers and the media about issues relating to taxes. For several years, they have ranked each state in the U.S. based on business tax climate. This year’s list shows that states in the west, including Wyoming, are the most tax-friendly, and those in the ... More >

Talking Taxes: Important Terms You Should Know Ahead of the Election

Important business tax terms to know before election

As election day looms ever closer, it’s time to make some very important decisions—namely, which candidates and statutes you will vote for on your ballot. While there are some who understand the ins and outs of the political world, many of us have a limited knowledge about the countless issues that are touched on during an election season. One ... More >