How are S corporations taxed? Tips for filing and reducing taxes as a pass-through entity
ThomsonReuters
MARCH 1, 2024
Tip : Almost any expense incurred during the day-to-day running of an S corp is tax-deductible, so the best way to reduce the business’s tax liability is to keep track of any and all expenses, even if you don’t think an expense is deductible — because it may very well be. rent, office supplies, phone, equipment, utilities, etc.)
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