Top Tax Credits Available for Small Business Owners
Top Tax Credits Available for Small Business Owners When you’re running a small business, every dollar counts—and taxes can easily eat into your hard-earned profits. While most owners focus on deductions, tax credits are often overlooked. And that’s a missed opportunity. Unlike deductions, which reduce your taxable income, credits reduce your actual tax liability—dollar for dollar. That’s a big deal. Yet with the complexity of tax law and the constant changes each year, it's easy to miss out on the credits you're legally entitled to. In this article, we'll walk through some of the top federal tax credits small business owners should have on their radar—and how to approach them without getting overwhelmed. 1. Small Business Health Care Tax Credit If you provide health insurance to your employees, you might qualify for the Small Business Health Care Tax Credit. This one is geared toward businesses with fewer than 25 full-time equivalent employees who pay average wages be...