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Small Business Write Offs

oboloo Glossary

Small Business Write Offs

Small business write offs refer to the deductions businesses can make from the total amount of taxes they owe in a given calendar year. These deductions include everyday expenses like supplies, office space, utilities, and employee wages – all which are necessary for running a successful business. By writing off these expenses, businesses can reduce their overall tax bill and keep more of their money in their own pockets. Additionally, small business write offs often also allow them to purchase new equipment and expand operations, as well as improve their cash flow overall. Writing off expenses can be a huge advantage for businesses of any size, and it’s one of the best ways to save money on taxes.

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