The 2023 tax season officially kicked off on Jan. 23 and many small business owners are preparing to file. Whether your business is an S corporation or partnership working toward the March 15 deadline or a C corporation working toward the April 18 deadline, it’s important to understand the basics of how small businesses are taxed and know what to be aware of not only this tax season – but also for your future tax planning.
Rockland Trust’s Business Banking Officer Joe Moser and two special guests – tax professionals Mike and Ashley Ulshoeffer of Ulshoeffer CPAs – recently dove into this timely topic during a webinar.
Click here to view the webinar
During the webinar, Mike, Ashley and Joe discuss four recent tax legislations and how the related changes may impact small businesses’ taxes. It’s important to note that the deductions and credits within each legislation have varying effective and sunset dates, among other qualifying factors.
Below are the four legislative changes that may impact your 2023 small business tax filing:
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Tax law changes frequently, which can make filing your business tax returns feel like a daunting task, but we hope the information provided helps you feel prepared. Remember that there’s no shame in investing in an expert for help! We’ve curated free resources on our Learning Center to help you understand your taxes and other important business functions, such as hiring, retention, cash flow and more.
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