How to Use Small Business Tax Deductions

As a small business owner, there are many costs and opportunities for savings that you should be aware of. Optimizing your balance sheets to deliver profitability becomes much easier when you know how your way around small business tax deductions. Successfully running a small business means having a clear overview of the expenses that you encounter throughout the year. Come tax time, it is important to understand that there are many small business expenses that the United States federal government has determined to be tax-deductible. Which Costs Can I Claim When Filing my Taxes? There are many different small business tax deductions available for small and medium-sized companies. Areas such as rent, inventory, payroll, and utility costs are some examples of small business deductions that you can claim when you file your yearly taxes. It is important to understand how to use small business tax deductions so that you can be sure you are not overpaying for normal outbound expenses that can be written off. Taking advantage of small business deductions is an important opportunity that every American business owner should be aware of. Though it is very challenging and time-consuming for many small business owners to file their yearly taxes, the government has created a policy framework that offers special benefits for small business tax filers. In this article, learn mo...
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Fleet management strategies and services to inject dynamism into your business

Having an efficient, reliable, and cost-saving strategy to solve your mobility needs is crucial. At SIXT, we have ample experience working with the most varied corporate clients. In this article, we share with you our extensive know-how on fleet management. It is important to consider some key aspects that will help you develop an effective strategy, such as understanding the types of costs that companies face in traditional corporate fleet management and using SIXT’s approach that saves time and money thanks to its innovative conception of mobility and state-of-the-art technology. Fleet management, how to develop the right strategy What is fleet management? What activities need to be coordinated and taken into account by a fleet management system? Fleet management for a company includes the development, organization, and implementation of all the processes required to manage a corporate fleet. This involves all the steps between the acquisition of vehicles, their maintenance, and their disposal. A successful strategy will minimize costs, ensure compliance metrics, increase productivity and efficiency, and, of course, will ensure the satisfaction of employees and team members. A point that companies often underestimate is that mobility needs change. The right fleet management strategy will develop ways to cope with uncertainty and build resilience. The first step ...
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How to start a delivery Service with a company car rental

Starting your own business can feel daunting when you first look at it. A business, however, can and should be something simple that helps people in their daily lives. In recent times, particularly in the past year, food services and other delivery businesses have thrived despite the economic downturn. Not only do delivery services facilitate the needs of struggling businesses and provide a safe shopping experience for customers, but they are one of the easiest businesses to start, too. A great way to start is by using a rental car for your deliveries. What type of delivery service is right for you? Delivery can seem simple on the surface; you offer a service that moves an item from one point to another. To succeed when opening your delivery service, you probably have to narrow down your idea into something more tangible and maybe focus on a niche of the delivery market. You could either deliver a product that you produce yourself, such as food from your restaurant, or a product that can also be bought in your physical store. Allowing customers to order online with fast delivery is also popular. Many delivery services, however, are not involved with creating the goods that are to be delivered, or with acquiring customers, but simply facilitate the transaction. You can narrow down your business when it comes to the goods that you transport and your other areas of f...
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Fringe benefits with dynamism: corporate car sharing as a business option

Is your company looking for a way of rewarding employees? Ensure that your team starts the day with the right energy and makes the perfect first impression when representing your brand in an external business meeting. Especially for employees whose job involves constant movement, providing the perfect means of transportation will be the ideal perk. Here we explore the benefits that companies have in offering fringe benefits for their employees. We explore three different modalities that your company can use to provide a fringe benefit company car. [av_heading tag='h3' padding='10' heading='Table of Contents' color='' style='' custom_font='' size='' subheading_active='' subheading_size='15' custom_class='' admin_preview_bg='' av-desktop-hide='' av-medium-hide='' av-small-hide='' av-mini-hide='' av-medium-font-size-title='' av-small-font-size-title='' av-mini-font-size-title='' av-medium-font-size='' av-small-font-size='' av-mini-font-size='' margin='' av_uid='av-3bmbd57'][/av_heading] 1. What are fringe benefits, and why should companies reward their employees? 2. Injecting dynamism into your business with company cars for employees 3. Modalities of a fringe benefit company car: employee vehicle allowance, company cars for e...
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Your guide to Taxable Fringe Benefits

There are a variety of perks offered by employers to make jobs more enticing. If you started a new job or are preparing your taxes, you might want to know more about these taxable fringe benefits. Or maybe you’re an employer who wants to know what qualifies as a fringe benefit and how they are taxed. We will outline some examples of fringe benefits and what they look like to employees and go over some examples of non-taxable fringe benefits. We will also go over what these taxable fringe benefits mean for employees. Whatever the case, you can be armed with knowledge about fringe benefits whether you are receiving or supplying them. 1. What are Some Examples of Fringe Benefits? If you get something outside of a regular paycheck from your employer, chances are it’s a fringe benefit. These perks are meant to offer motivation to the employees to do better work, and in some cases to retain employees. Some common benefits offered are: Insurance coverage: This could include health insurance, life insurance, or even disability insurance. Insurance is one of the most popular fringe benefits you will find. Retirement contributions: Whether it is 401k contributions or something else, companies often offer this kind of benefit. Transportation reimbursement: If you live in a city with public t...
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