It’s tax season – do you know where your deductions are? If you have a small business, you can recover some of the losses you experienced during a brutal 2008 by carrying a loss back to previous years, accelerating write-offs for equipment purchases, and claiming deductions for unsold inventory.
Fortune Small Business talked with a dozen tax experts and provides tips here.
You can also save at tax time by reducing your excess inventory. Check out this ASI article and find out how you can deduct up to twice the purchased price of an item by donating it, as well as other savvy tax tips.
How are you handling this year's tax bill? Let us know by leaving a comment!