It may seem like the end of the financial year is a lifetime away and working on your taxes an eternity.
But, there’s no best time like today for shrewd small business owners to start planning, coordinating and developing their personal and business end-of-year tax saving strategies of deferring income where possible until July 1 while maximizing deductions by June 30 to take full advantage of changing tax-saving opportunities and to sidestep a range of looming tax traps; thus, saving more of their hard-earned profits, as well as eliminating headaches and possible IRS difficulties down the road.
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