May’s year-end tax advice December 5, 2021 EmoryDay EmoryDay Post in Financial Planning May’s year-end tax saving advice for small businesses and business owners Organize the Chart of Accounts and eliminate inefficient expensesUse accounting software automation tool to capture complete expensesOutsource tasks to create efficiencyEstablish an ideal retirement plan to maximize pre-tax savingsDeploy triple-tax-advantaged strategies like setting up an HSA account or paying your childrenDelay or accelerate certain income or expense itemsDon’t forget all the home office and car expense deductions: Home OfficeCarMortgage InterestGasProperty TaxDepreciationRepairs and MaintenanceFeesDepreciationInsuranceUtilitiesLease PaymentInternetRepairsPhoneOilCleaning and Janitorial ServicesTiresHomeowner’s InsuranceWashesUmbrella InsuranceRegistrationHome Owner Association FeeParkingFront Foot Assessment or Other AssessmentTolls