BizSugar.com › Startups › 5 Ways to Reduce Your Year-End Tax Bill

For many business owners, December means employee gifts, holiday promotions and planning for the new year. It also means it's time to review business tax plans, which can often be an expensive process. When federal, state and investment income taxes are taken into account, tax attorneys estimate that small business owners will be facing an effective tax rate of 40 percent or higher.