SBA preparing its popular online tax planning discussion

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With tax season just around the corner, the American Institute of Certified Public Accountants and the Small Business Administration will host their fifth annual free Web chat Dec. 15, offering small businesses tips on reducing tax payments before the year’s end.

With tax season just around the corner, the American Institute of Certified Public Accountants and the Small Business Administration will host their fifth annual free Web chat Dec. 15, offering small businesses tips on reducing tax payments before the year’s end.

Tax staff of the AICPA, including Vice President Edward S. Karl, will answer specific questions about issues many small businesses face when preparing to file taxes, such as applying for deductions and credits, and deciding which structure of business ownership to designate on tax forms.

Since Monday, small business tax filers have posed nearly 40 questions in advance on the SBA’s website. Last year’s hourlong session was so popular, the agency said, that experts were unable to answer all of the questions posted in the Web chat.