Leading CPA Pauline Ho Offeres Top Tax Tips For Small Business Owners – Orlando, FL
Nov 21, 2023
Key Takeaways
- CPA Pauline Ho from Laus Consulting Services provides tax tips to help small business owners maximize annual savings and minimize financial impacts.
- Small business owners should adopt a reliable system to track business spending to ensure smoother tax seasons and take advantage of tax deductions.
- Keeping accurate records of car-related expenses can maximize tax savings, whether deducting based on mileage or car-related expenses.
- Hiring qualified family members can provide tax deduction advantages for small business owners.
- Consulting experienced tax accountants can help small business owners qualify for and make long-term tax savings.
Top accountant Pauline Ho founder of Laus Consulting Services LLC in Orlando, FL provides crucial tax tips for small business owners to maximize annual savings and minimize financial impacts. For more information please visit https://lausconsult.com
Orlando, Florida, United States - November 21, 2023 —
Small business owners can do more to make annual tax savings and soften the financial blows to their enterprises, CPA Pauline Ho has said.
For more information please visit https://lausconsult.com/
The senior accountant at Laus Consulting Services, LLC, in Orlando, FL, advised that while many owners were busy managing and overseeing their businesses, they may well negate the chance to pursue several tax advantages.
Ho said: "Smaller enterprises are taxed at a rate of about 20% or more, but their owners can take actions throughout the financial year to minimize the impacts of tax and accrue thousands in savings in tax deductions."
Ho said adopting a reliable system to track business spending should be a priority. "Reporting every business transaction as it happens can ensure a smoother tax season while taking advantage of as many tax deductions as possible."
She added: "Owners can use software or apps to digitize a tracking system and avoid paper records. These will help enormously in working with accountants to devise the best tax strategy for your company."
Keeping track of car-related expenses can also maximize tax savings. Owners face two options in deducting vehicular usage for business purposes. Either around the number of miles driven or based on car-related expenses such as gas, insurance, and repairs," she said.
"Maintaining accurate mileage and car maintenance records will allow you to evaluate which deduction can save you the most money," she advised. Technology such as the MileIQ app can help track all car expenses.
Ho said owners who try to remember expenses from months ago were opening themselves up to potential accounting errors and possible IRS fines.
She also raised the potential of hiring a family member in the business to derive tax deduction advantages.
"The government offers incentives for small business owners who hire qualified family members, such as allowing owners to deduct their family's wages as a business expense," Ho explained. This type of deduction under the Federal Unemployment Tax Act doesn't include entities such as S corporations or certain partnerships.
To ensure a business reaps the fullest tax advantages, Ho suggested small business owners consult experienced tax accountants to see how they could qualify and make savings over the long term.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
Phone: 407-401-9768
Website: https://lausconsult.com
Release ID: 89113683
In case of encountering any inaccuracies, problems, or queries arising from the content shared in this press release that necessitate action, or if you require assistance with a press release takedown, we urge you to notify us at [email protected]. Our responsive team will be readily available to promptly address your concerns within 8 hours, resolving any identified issues diligently or guiding you through the necessary steps for removal. The provision of accurate and dependable information is our primary focus.
More News
European golf holidays braced for a 35% rise in unplayable days, as most impacted locations revealed
New research by golfclubs4cash has found that extreme weather could be putting golf getaways at risk, as 16,793 days of play have been lost across some of Europe’s most popular golf holiday destinations since 2016. golfclubs4cash’s analysis of the most popular golf getaways across Spain, Portugal, and Turkey comes amid a spike in demand for golf holidays amongst Brits, with 940,000 Google searches between January and June this year.
How the “Dual Olympic City” Activates the Sports Event Economy
On the evening of October 6, after Djokovic won the first set of the men’s singles final, his opponent Alex de Minaur retired due to injury, giving Djokovic his seventh China Open title. During the tournament, the excitement of the China Open extended from the courts to the entire park. The “second venue” with big-screen viewing, a rich variety of officially licensed merchandise, and food and beverage outlets full of everyday bustle blended the passion of sports competition with the city’s relaxed atmosphere, creating a diverse holiday viewing experience.
Anguilla to host CTO’s inaugural Sports Tourism Summit in 2027
Anguilla will host the inaugural Caribbean Tourism Organization (CTO) Sports Tourism Summit, Aug. 12-14, 2027, creating a new regional platform focused on harnessing the growing intersection of sports, tourism and economic development. The announcement was made during CTO’s State of the Tourism Industry Conference (SOTIC) in Georgetown, Guyana, where Caribbean tourism leaders met under the theme “Tourism Futures: Smart, Sustainable and Inclusive.”
This Gen Z designer nearly left the industry. Now, he is redefining luxury fashion
“I’m not a fashion person,” says Kenneth Chow, founder of independent fashion label Chow Chow. During our interview, he wears a simple striped shirt and answers without pretension. “I barely buy new clothes,” he says, laughing. Despite his simple approach to fashion, Chow’s business focuses on refined craftsmanship, intricate designs and handcrafted luxury. His designs, embellished with crystals and pearls hand-stitched on dark-coloured silks, play with perceptions of geometry and linear...
Touring Tuscany for Piero della Francesca’s Most Resplendent Artworks
A writer’s road trip in search of the early Renaissance master’s most resplendent works takes her to towns beyond Florence, the birthplace of the Italian Renaissance.
Glastonbury Isn't The Only Festival On The 2027 Calendar, And These 5 European Events Prove It
Fear not, your summer plans will be saved... View Entire Post ›
The plague isn’t history. Where it still exists, how it spreads and a cure
To most, the plague is an ancient nightmare, a scourge that wiped out tens of millions in medieval Europe and killed more than 20,000 people in colonial Hong Kong between 1894 and 1929. A recent death at a plague research facility in Siberia is a stark reminder that the bacterium that causes it, Yersinia pestis, was never eradicated. While modern medicine has transformed the former “Black Death” into an easily treatable bacterial infection, the disease continues to circulate quietly across the...
Conor Kennedy and Giulia Be Married in Rio
The couple’s three-day wedding celebration in Rio de Janeiro brought together two families with political ties as rising tensions surround Brazil’s presidential election.
Meet Thomas Eisenhood, Jessica Simpson’s rumoured new boyfriend
Jessica Simpson seems to be cosying up to her rumoured new beau. On October 5, TMZ reported that the 46-year-old singer and actress was spotted enjoying a Sunday morning walk at Albuquerque’s Balloon Fiesta Park with 33-year-old musician Thomas Eisenhood, whom she was first linked to in April. According to TMZ, the pair had been dating for roughly three months when the outlet broke the news in April. A source confirmed the relationship to People, adding, “[Simpson is] happy. She’s in a great...
Travel leaders gather in Jamaica for World Travel Awards Caribbean & The Americas Gala Ceremony 2026
Jamaica is preparing to welcome travel and tourism leaders from across the region for the World Travel Awards Caribbean & The Americas Gala Ceremony 2026. The ceremony is taking place at Princess Grand Jamaica on 11 October 2026, forming the flagship evening of World Travel Week Jamaica.
Just 37 Travel Products For Anyone Who Wants To Be Over-Prepared In The Best Way
Prepare to be the MVP of your travel buddy group. View Entire Post ›
Why freaky shoes from Saint Laurent, Chanel and Dior are trending
There is something quite deliciously subversive about a freaky shoe. Feet of course already hold a hint of perversion – some people are really into them, while others find them repellent. But shod those feet in a shoe that people can find both compelling and strange? Well actually, that’s fashion catnip. Visceral proof can be found in those who have made the freaky shoe their signature, such as the aristocratic, enigmatic and entirely iconic Daphne Guinness, who always wears a pair of...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.