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Handicraft business
Small business owner-managers should be aware of 10 fundamental areas of tax management.
1. CONTINUAL TAX PLANNING,
2. TAX DEFERRAL
3. INCOME SPLITTING
4. MARGINAL TAX RATES
5. DEDUCTIBLES
6. Accounting and Legal Expenses.
7. Advertising.
8. Business Entertaining.
9. Automobile Expenses.
10. Interest Expense.
11. Repairs and Improvements.
12. Office Expenses.
1. Select any three of the ten tax management areas mentioned in above and explain how you can benefit from them when you start operating the small business you are working on.
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