Taxes stink! Figuring out what to deduct, for how much and when is a real pain. If you are as frustrated as me during tax season, surely many of the clients you serve have the same feelings toward this time of year.
Embrace this tax season opportunity and show empathy (along with helpful tips/expertise) with your clients!
If you have a small business and your clients are small businesses, share your tax insights with them. Help them sift through the clutter of tax code by highlighting a useful tip. Share tips about personal and business tax breaks or tools that specifically address their industry.
Include useful content in your newsletter to build up goodwill and a stronger following too!
I’ve been working on a post about a number of promising tax tools that can make doing your taxes less annoying. Hooray! I’ll post these soon, but in the meantime let me share a tip that many startups just starting out may use to potentially bring in an infusion of cash.
Tax tip for recently formed startups: If your expenses/deductions are more than your income this year, then you’ve suffered a net operating loss (NOL). If so, you can likely offset your NOL by carrying back the losses against income earned the past two years. Alternatively, you can elect to carry the NOL forward to help with future taxes. Check with your accountant for specifics and see if this tip might work for you. Good luck!
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