https://www.monarchcpa.com/wp-content/uploads/2022/04/Monarch-CPA-Blog-Post.jpg 417 521 Rick Hogan https://www.monarchcpa.com/wp-content/uploads/2020/07/monarch-cpas-logo-300x101.png Rick Hogan2022-04-05 12:51:162022-04-05 13:50:29Can Personal Deductions Lower What Business Taxes You Owe?
Can Personal Deductions Lower What Business Taxes You Owe?
Tax day is right around the corner… By now your business taxes should be completed. Congratulations! But, before you celebrate, we still have a bit more work to do on your individual taxes. As you’ll remember, if your business is an S corp, partnership, single-member LLC, or sole proprietorship, your business’ taxes “passed through” to you. This means we now have to deal with them on your individual taxes at your personal rate instead of your business rate.