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4 Steps Small Businesses Can Take to Lower Their 2020 Tax Bill

4 Steps Small Businesses Can Take to Lower Their 2020 Tax Bill

The American College of Financial Services
Barron's
June 23, 2020

While small businesses continue to be hard-hit by COVID-19’s economic impact and struggle to reopen amid the ongoing pandemic, taxes for this year are becoming a worry for many owners. Advisors and business owner clients need to consider how to handle paying those taxes, taking into account diminished income and strings on government assistance.

Steve Parrish, co-director of the New York Life Center for Retirement Income, says some owners may need to consider restructuring the way they run in order to stay in business. For more, check out this article from Barron’s.

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