5 Ideas to Help Small Business Owners Reduce Taxes for 2023

Small business owners still have time to reduce their federal income tax bills for this tax year. Here are five tax-smart moves to consider between now and year end. The good news is it appears there won't be any significant unfavorable federal tax changes that will take effect next year, which simplifies year-end tax planning for 2023.

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Important Tax Figures for 2023

Here are some tax figures for 2023, compared with 2022, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions and more.

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