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Tax Saving Strategies Every Small Business Owner Should Know

August 16, 2023

Tax specialists explain available tax credits and answer frequently asked questions in a new NFIB webinar

Tax Saving Strategies Every Small Business Owner Should Know

The NFIB Research and Legal Centers held a webinar titled “Don’t Leave Money on the Table: Commonly Missed Tax Opportunities.” Guests Rebecca Sheppard, Esq., and Peter Haukebo, Esq., provide tips on how to take advantage of available and often overlooked tax savings opportunities for small business owners and answer common tax questions. “Peter and I started educating the populace to make sure that people are doing things right and to understand how best to use these tax credits as well as how best to maximize as many opportunities as possible to get more on the bottom line,” said Sheppard. Haukebo covered questions on the Employee Retention Tax Credit (ERTC) and explained the basics. “Part of effective tax planning is making sure that some of the credit work you’ve done already is correct and if it’s not, figuring out how best to mitigate any issues.” Additional topics discussed in the webinar included:

Work Opportunity Tax Credit
Section 179 & Bonus Depreciation
Resources & Development (R&D) Credit
Choice of Entity and Tax Strategies

The full webinar is available on-demand. The next webinar is scheduled for Wednesday, Sept. 6, with Joe Major, Chairman and CEO of The Victory Bank, who will discuss best practices and accessing credit for your small business and the changing landscape of small business financing. Email questions to info@nfib.org.

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