How do small businesses get free money? – Government Business Loans Or Grants

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Tax cuts: Most small and medium-sized businesses get a tax cut for either their first decade of investment or for their first 40 or 50 years of continuous ownership. If they make it through the early part of the tax year, they may also get a tax cut for their first 10 years of business. This tax advantage lasts as long as they keep paying their taxes, as the tax cuts are tax credits.

Income-splitting: With a special tax break for couples with children, some low- and middle-income taxpayers can save $600 on tax bills for a couple making $25,000 each. The married couple can use the tax break to split their income from a joint account and give each of the children $150 in income-related contributions. The family may save another $30 by using the special tax break on a joint mortgage, and this will reduce the amount of capital gained and interest. The families can then use these contributions to pay off the joint mortgage and pay off the other interest on the account.

Get Easy Government Grants for Small Business

Capital gains: Some taxpayers qualify for the special “pass-through” property tax deduction (for the personal loss on business income), and, if qualified, can avoid paying the capital gains rate.

A person can also “self-dote”—self-own property with his or her spouse and receive an income tax credit for this.

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