portland tax cut small bakery

Portland leaders propose tax cut for small businesses by raising exemption threshold — Photo by Erika Browne on Pexels

3 Costly Missteps With Small Business Taxes

3 Costly Missteps With Small Business Taxes The three most costly missteps are ignoring the exemption thresholds, over-claiming capped deductions, and failing to align filing frequency with new quarterly credit rules. In 2023, Portland’s small business tax exemption saved an estimated $45 million for enterprises under the $5,000