Small Business Tax Tips

One problem with these rules is that they can be highly technical and complicated, and therefore, difficult to take advantage of. Schwarz recommends hiring architects and engineers who are familiar with or willing to take on more of the work in determining which benefits could be accessed.

Also, talk to homebuilding manufacturers. Manufactures tend to be more knowledgeable regarding which of their products can be incorporated into a building and qualify for this benefit.

Finally, take a look at a high-deductible health plan to take advantage of the new Health Savings Accounts rules.

For a retirement plan, consider investing in the Simplified Employee Pension plan. The beauty of the SEP plan, Schwarz explains, is that it has the highest contribution limit of any of the relatively simple plans. It is even "significantly higher" than 401(k) plans or traditional IRAs, he notes.

The burden for small-business taxpayers can be heavy. That's why owners should try to take full advantage of tax-benefit opportunities that are given to them and maximize their returns.

"One of the things you want to be looking at is how you can save on your taxes," Schwarz emphasizes. "Look for things the government wants you to do. If it wants you to produce things in the U.S. or build an energy-efficient building, and it's going to give you an incentive to do so, make sure you take the incentive."