How To: Research Corporate Tax Loopholes

When filing taxes for your small business, an easy way to gain a few extra dollars annually without incurring the wrath of the IRS is to have knowledge of various corporate tax loopholes available. Of course, the IRS isn’t about to advertise these loopholes for you, but there are ways of finding them out.

Research Opportunities

If you are curious to find out about various loopholes available to you, the easiest way to research them is through the internet. Many forum posts are out there that were started by people wanting the same information as you, and over time, they have collected a decent number of loopholes that you may be able to use. This can get you a good basis of loophole knowledge. And if all else fails, consult with professionals familiar with filing corporate taxes; these people are paid specifically to get the most for a business out of their taxes.

An End To Tax Loopholes

President Obama (then a Senator on the campaign trail) has made clear the fact that the US tax system is full of loopholes for corporate taxes, and that he fully intends to put a stop to all the federal corporate tax loopholes, to include oil and gas loopholes, and the corporate tax deductibility of CEO pay.

Assuming President Obama carries through with his word, you may want to take advantage of tax loopholes while they

 

 still exist.

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