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Client Profile: John and Maria run a successful small business specializing in handmade crafts. Despite their profitability, they were concerned about high tax liabilities eating into their profits.
Challenges:
Limited understanding of available tax deductions and credits.
Difficulty in tracking and categorizing business expenses.
Solution:
Our team conducted a comprehensive review of their business operations and financial records.
We identified overlooked deductions and credits, including those related to home office expenses, equipment purchases, and business travel.
Implemented a streamlined system for expense tracking and documentation.
Results:
By leveraging available tax deductions and credits, John and Maria were able to significantly reduce their tax liability.
They saw an increase in their bottom line, allowing them to reinvest in their business and pursue growth opportunities.