General Business Tax Credit

Throughout the year, your company does many things that help promote the business. You donated some money to the local charity. You designed and instituted a new pension plan. Now it comes time for you to do your business’s taxes. You’ve been dreading this moment.

As you fill out the forms, you note research expenses, charitable donations, child-care, pension plans etc. As you add different credits to your forms, you notice the amount of money you owe is going down. When you're finished, the amount of money the company owes in taxes is significantly less than what you owed prior to listing your business credits.