How to Maximize Tax Deductions: Top 10 Strategies for Small Businesses

Maximizing tax deductions is essential for small businesses to reduce taxable income and improve financial efficiency. A business consultant or tax consultant can help identify deductible expenses like home office costs, business travel, depreciation, and employee benefits. Keeping accurate financial records, utilizing GST Input Tax Credit (ITC), and leveraging Section 80C and 80D deductions can further optimize tax savings.