Daily News | Small businesses need to consider these actions now to lower 2022 taxes
March 15 was the deadline day forthat filed “pass-through” returns and next week is the tax deadline for individuals and corporations, which means — unless you extended your returns until October — your, 2021 tax year is pretty much over. But instead of putting taxes out of your mind — the federal, state and city government can eat up from 20 to 40 percent of your income — we should all be thinking ahead. Because the more planning we can do for 2022, the less in taxes we may have to pay.
Like most small businesses, you’re probably making quarterly estimated payments. Don’t ignore them. But even more important, consider adjusting them based on how the year is going and your ongoing conversations with your accountant.can provide an enormous tax savings for your company this year — and through 2025.
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