Encore Business Services

Frequently Asked Questions

Tax-saving strategies include contributing to retirement accounts, maximizing deductions, and investing in tax-advantaged accounts.

What deductions am I eligible for on my return?
Deductions vary by individual and business, but common ones include home office expenses, business meals, vehicle expenses, health insurance premiums, and retirement contributions.
When are my business and personal tax returns due?
Personal taxes are due on April 15 (or the next business day if it falls on a weekend/holiday). Business deadlines vary based on the structure: March 15 for partnerships and S-corps, April 15 for C-corps.
What is the best way to structure my business (LLC, S-Corp, C-Corp, etc.) for tax purposes?
Each structure has different tax benefits. LLCs offer flexibility, S-Corps allow pass-through taxation, and C-Corps may benefit larger businesses with reinvestment plans.
How do I prepare for an audit?
Bookkeeping! Keep organized records, document all deductions, reconcile accounts regularly, and work with an accountant to ensure compliance with tax laws.