Any tax benefits you can get being a business owner?

[Laurentta]

Are there any tax benefits and write-offs you can get for owning and running a business? I know in the US there are some benefits you can qualify for, but I have no clue where to look in regards to that. All these years and I never really looked into that side of things. I'm all about saving what I can, so if you have any suggestions, I'm all ears.

I don't know for sure if there are any tax benefits and write-offs a business owner gets for owning and running a business as i don't own a business of my own yet.

 

[Shaffy]

In Nigeria here, the bigger your business, the more you'll likely be exploited by the authorities. It would be great if people helped others grow instead of pulling them down. Granting tax relief and other incentives would help the economy grow faster.

 

[Heatman]

There are only a few tax benefits that small businesses enjoy in my country which I believe that it is not even equivalent to whatever they are paying for taxes. This is because the government only cares about the money they take from those small businesses and not giving much in return.

 

[Ernestnari]

I think being a business owner, you can pay your own income tax as part of your business tax. With that approach, you would be spared taxes on your personal earnings.

 

[Syldan]

Actually I think it depends on your country of location.

There are some countries where by you will be paying tax as a business man, but there is absolutely no benefit to be proud of.