Top Small Business Tax Deductions: Made Easy

The term small business denotes an entity that is privately owned and managed that can only hire a minimal number of employees. These companies are also usually classified by annual revenue made, monthly sales, shipments, total business assets as well as the total annual gross revenue achieved. The Small Business Administration (SBA) is the body that holds primary responsibility for the regulation of the size standards. The size standards are generally dictated by the Industry sector as well as by State Regulators. There are now industry variations that govern size. Examples of these stipulations include a standard of between one hundred and five hundred employees for the wholesale sector while the maximum stipulated employees for a manufacturing business must fall between five hundred and a thousand employees.