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Recession-proof Your Business

What to know about taxes if your organization is struggling

Many small businesses are thriving despite high inflation, labor shortages, and other challenges. Unfortunately, some businesses are struggling.

Xero’s Small Business Global Index Update for July-September 2023 found that sales are down from a year ago. Even worse, it’s been reported that nearly 1,500 small businesses filed for bankruptcy in the first 9 months of 2023, which is almost as many as in all of 2022.

If you look at your profit and loss statement year-to-date and don’t see good numbers, what does this mean tax-wise for you?

Please select this link to read the complete blog post from Big Ideas for Small Business.

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