Top 10 Business Tax Saving Tips for 2018 By A1Tax LLC USA.


Tax time tends to be one of the most stressful times of the year for most small business owners. This is largely due to the fact that instead of preparing throughout the year for tax season, we tend to wait until the last minute sort of like cramming for an exam. Implementing some of the tips that we have shared with you below will not only reduce your stress but also save you time and money.


Looking to save more on your taxes this year? Who isn’t! There are several simple ways to lower your taxes that taxpayers often overlook. We’ve highlighted just a few tactics that you can utilize to save money on your taxes this year.

Donate to Charity


Tax season is in full swing! And since you’re filing your 2016 tax return during the 2017 calendar year, we’re here to help you meet the 2017 tax deadlines. So be sure to grab your calendar and mark down these important deadlines and dates for this tax season.

Health Care Enrollment Deadline

Open enrollment for health insurance started on November 1, 2016, and ran through December 15, 2016. December 15 was the last day to enroll in healthcare coverage, re-enroll, or make changes to your plan for coverage starting on January 1, 2017. 

5 Best Ways to Increase Your Tax Refund - A1Tax West Monroe

A1tax west monroe tax blog image


Here are five tried-and-true ways to reduce your tax liability at tax time. Pay no more than you owe, or even increase your tax refund.

While Americans may disagree on how their taxes are spent, at tax time, most of us are looking for ways to pay no more than we owe, or even boost our tax refunds. These five strategies go beyond the obvious to give you tried-and-true ways to reduce your tax liability.

boost tax refund

Rethink filing status to boost your refund

The Tax Scheme for Income in Kind and Benefits

The Ministry of Finance released on the 6th of October the Circular 1219/2014 regarding the tax treatment of income provided in kind by companies to employees and employees’ relatives.

More analytically, if the market value of income in benefits exceeds 300€, according to employer’s books and records, the taxable income of the employee (or shareholder or partner) shall be increased by this amount. In accordance with par. 1 of art. 13 of L. 4172/2013, benefits in kind should be considered:

·         The vouchers for the purchase of goods.

·         The use of corporate credit cards and mobile accounts for personal rather than corporate needs.

New fields in income tax returns of 2015

Incomes generated in 2014 are going to be taxed in accordance with new Income Tax Code - ITC (Law 4172/2013), effective since 01/01/2014. The new tax framework brings significant changes regarding the taxation of payroll and profit income, dividends, capital gains, interests etc.

Therefore, our team drafted a short article in order to cite the new fields expected to be included in tax return form.

Interests generated by foreign sources

Firstly, interests constitute every income which is generated by deposits, government and corporate bonds. A Greek tax resident should fill in his tax return all interest income from abroad, according to art. 37 of ITC and Circular 1042/2015. More specifically:

Property Taxation

Property taxation has increased greatly in recent years in Greece, due to a government effort to accumulate public revenues. However, tax burden related to ownership, is expected to decline in 2014, as some taxes will be abolished, such as EETIDE (Electrified areas fee), and some others will be concentrated in the United Property Tax (EN.F.I.A.).

This tax is calculated in accordance with the objective value of the property and some other characteristics such as the property’s age, the number of frontages and the floor. The objective value constitutes a theoretical price per sq.m., defined by Law, and constitutes the base for tax calculation. Firstly, the basic tax depends on the zone price (objective price) of the property and ranges from 2.00€/sq.m. to 13.00€/sq.m.