BizSugar.com › Taxes › Find tax breaks for your business

Federally speaking, there are a wide variety of tax benefits for small businesses. Many depend on the type of business you own. One of the most fundamental, but dramatic, is available to LLCs and corporations with S-status. If they're eligible, they only pay tax at the shareholder/owner level, as opposed to paying at the corporate level and again at the shareholder level to the extent that there are dividends distributed. This way they avoid a double tax.

An often-overlooked tax benefit unique to small businesses, regardless of whether they are a corporation, partnership, or sole proprietorship, is Section 179 small business expensing.