Tax planning is important especially when the business is doing great because it can help business owners gain more control of when taxes need to pay, for example, Quarterly Estimate Calculation. Besides, the right tax planning will assist you to reduce the rate of tax.
One deduction that many Construction Owner that is missing is home office deduction.
Do you have a home office?
Do you have a space designated in your home specific for official business purposes? If you use part of your home exclusively and regularly for conducting business, such as meeting clients, you may be able to deduct expenses such as mortgage interest, insurance, utilities, repairs, and depreciation for that area. You need to figure out the percentage of your home devoted to your business activities, utilities, repairs, and depreciation.
Let us assist and plan for you! Construction Cost Accounting is located in Irvine, CA 92614, but we are servicing, Los Angeles, Orange County, and San Diego.
Contact us today via support@constructioncostaccounting.com or call us (949) 356-0840