{"id":476,"date":"2014-07-28T10:00:57","date_gmt":"2014-07-28T17:00:57","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/?p=476"},"modified":"2023-07-11T10:30:20","modified_gmt":"2023-07-11T17:30:20","slug":"tax-breaks-small-businesses","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/blog\/tax-breaks-small-businesses\/","title":{"rendered":"Arizona Tax Breaks for Small Businesses"},"content":{"rendered":"

A recent article on\u00a0<\/a>Forbes<\/a>\u00a0<\/i>addresses the apparent ways in which large companies are able to avoid taxes.<\/p>\n

Large companies seek\u00a0\u201ctax inversions\u201d\u00a0where they are able to have foreign mergers to avoid U.S. corporate taxes.\u00a0 In addition, the IRS has been targeting non-profit organizations instead of large companies for tax issues, especially if those organizations have a particular political leaning.<\/p>\n

\u201cIt doesn\u2019t seem fair\u201d for small business owners, as the\u00a0Forbes\u00a0<\/i>contributor, Steven Parrish, wrote.\u00a0 Small businesses aren\u2019t privileged to the same opportunities as large companies and they may be susceptible to the IRS.<\/p>\n

But Parrish gave some tips for small businesses to take advantage of the tax breaks available to them.<\/p>\n

Tax Structure<\/b><\/p>\n

Parrish recommended that small businesses evaluate their tax structure to make sure that small businesses aren\u2019t filed as a C Corporation and are paying doubled taxes.\u00a0 It might be cheaper to be filed as an LLC.<\/p>\n

According to the IRS data from 2012, 1.9 million companies filed as a C Corporation, 3.6 million filed as an LLC, and 4.6 million filed as S Corporations.<\/p>\n

Parrish also wrote that companies need to check if they structured their business to be active and not passive in order to avoid a Net Investment Income Tax.<\/p>\n

Tax Breaks through Government<\/b><\/p>\n

There are numerous little breaks that small businesses can use that are offered through the government.<\/p>\n

A few examples are the Small Business Health Care Credit and Home Office deduction, as well as hiring spouses or children for work.\u00a0 These tactics save the amount that is available to be taxed.<\/p>\n

Exit Plan<\/b><\/p>\n

There are also numerous exit plans that can result in being entirely deductible.<\/p>\n

Parrish uses the example that if a company sells their business to an ESOP, taxes can be deferred.<\/p>\n

Small Business Representation<\/b><\/p>\n

If you own a small business and would like to learn more about your tax options, contact JacksonWhite small business attorney<\/p>\n

Call JacksonWhite’s Small Business Law Team at (480) 464-1111<\/a> to discuss your case today.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A recent article on\u00a0Forbes\u00a0addresses the apparent ways in which large companies are able to avoid taxes. Large companies seek\u00a0\u201ctax inversions\u201d\u00a0where they are able to have foreign mergers to avoid U.S. corporate taxes.\u00a0 In addition, the IRS has been targeting non-profit organizations instead of large companies for tax issues, especially if those organizations have a particular […]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[5],"tags":[],"acf":[],"yoast_head":"\nTax Breaks for Small Businesses | Arizona Lawyers Small Business<\/title>\n<meta name=\"description\" content=\"If you own a small business in Arizona and would like to learn more about your tax options, contact JacksonWhite small business attorney, Dave Weed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/blog\/tax-breaks-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Breaks for Small Businesses | Arizona Lawyers Small Business\" \/>\n<meta property=\"og:description\" content=\"If you own a small business in Arizona and would like to learn more about your tax options, contact JacksonWhite small business attorney, Dave Weed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/blog\/tax-breaks-small-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Arizona Small Business Representation Lawyer - 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