Workshop Wednesday attendees hear money-saving tax tips

HISD’s Workshop Wednesday last week featured David Kolts, a CPA and tax advisor who runs his own small business and also makes presentations for IRS small business workshops in the Houston area.

Kolts’ presentation, titled The Ten Most Expensive Tax Mistakes That Cost Business Owners Thousands, was well received by the group and prompted questions and discussion. He said the number one most expensive tax mistake is failing to plan.

“It’s important to plan ahead, and structure your business to provide the greatest tax advantage,” Kolts said. “Depending on your situation, whether you are a sole proprietorship or an S-Corp can make a huge difference on your tax bill.”

The monthly workshop, held the first Wednesday of each month, is sponsored by the Business Assistance Supplier Diversity Department. Topics vary and are designed to benefit small and minority- and women-owned businesses (M/WBEs) that are looking to develop more opportunities and grow their business.

The next Workshop Wednesday will be held March 4, and is open to any small business or M/WBE interested in working with HISD.