Category Archives: Taxes

Are tax credits more valuable to business owners than tax deductions?

Often, they are. Credits are dollar-for-dollar reductions in the amount of taxes owed. For example, if your business qualifies for a $12,000 tax credit for expenses incurred to develop a new or improved product or process, the IRS may give your business a credit for having already paid $12,000 in taxes, and that amount is […]