Finance expert Mike Periu on Tax Tips: how a little tax planning now, before the year ends, can save your small business money.
It’s not too late to make financial decisions that can minimize your tax liability for the current year and future years. Even though you are busy with other end of year activities, a little tax planning can be quite a valuable investment.
Consider the following tips:
- Take a section 179 deduction which allows you to expense the purchase of equipment for your business, by buying in 2012 when its worth more than in 2013.
- Don’t forget to deduct startup expenses. You can deduct up to $5,000 in expenses related to the start of your business like legal filings and market research.
- Setup and fund a retirement account. Small-business owners and self-employed persons have access to special accounts where a significant portion of your income can be saved and invested with no taxes due on gains until you retire.
Who is Mike Periu?
Mike Periu is the President of Proximo, LLC, a company that markets education and training programs to small business owners, entrepreneurs and consumers.
Mike Periu has been interviewed over 500 times for broadcasters including CNN, NBC TVE, RTE and others. Mike is a contributing author to OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike graduated from Georgetown University in Washington, DC. His degrees are in Finance and International Business. In addition to his work Mike is also on the Board of the Council for Economic Education.
Learn more about Mike Periu
Mike works with small businesses to teach them about finance and management. He started Proximo, LLC, a company that offers small business education and training services focused on finance and technology.
Periu also writes for OpenForum, Yahoo! Finanzas the Huffington Post contributor.
Mike went to Georgetown University where he studied Finance and International Business. He also serves on the Board of the Council for Economic Education and was a Fellow at the Kauffman Foundation.
