Small Business13 pages

Small Business Tax Savings Playbook

Legal strategies to minimize your business tax bill

A 13-page playbook covering the most impactful tax-saving strategies for small business owners, freelancers, and solopreneurs. Includes entity structure comparison, deduction maximization, and retirement account strategies.

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What's Inside

Business entity comparison (LLC, S-Corp, C-Corp, Sole Prop)
Top 25 most-missed business deductions
S-Corp salary optimization strategy
Retirement account comparison for business owners
Quarterly estimated tax planning worksheet

Small Business Tax Savings Playbook

13-page PDF guide

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Detailed Breakdown

Entity Structure Optimization

Sole Proprietorship vs LLC vs S-Corp comparison
When to elect S-Corp status (the $40K+ rule)
Reasonable salary determination for S-Corps
Multi-member LLC tax considerations

Deduction Maximization

Home office deduction (regular vs simplified)
Vehicle deduction strategies (Section 179, bonus depreciation)
Business meals, travel, and entertainment rules
Health insurance deduction for self-employed

Retirement Tax Strategies

Solo 401(k): up to $69,000 in tax-deferred savings
SEP-IRA: simplest high-contribution option
Defined benefit plan: $200K+ annual deductions
Mega backdoor Roth strategy for business owners

Quarterly Planning

Estimated tax payment calculator and schedule
Income smoothing strategies
Year-end tax planning checklist
Record keeping best practices

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Related Free Calculators

Use these free tools alongside your guide for the best results.

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Frequently Asked Questions

When should I switch from sole proprietor to S-Corp?

Generally when net self-employment income exceeds $40,000-$50,000 annually, the S-Corp tax savings outweigh the additional costs. The playbook includes a breakeven calculator to determine your specific threshold.

What's the QBI deduction and do I qualify?

The Qualified Business Income (QBI) deduction allows eligible self-employed individuals and small business owners to deduct up to 20% of qualified business income. The playbook covers income limits and strategies to maximize this deduction.

How much should I set aside for estimated taxes?

A safe starting point is 25-30% of net self-employment income. The playbook includes a quarterly estimated tax worksheet that accounts for self-employment tax, income tax, and state taxes.