The end of the year can be an overwhelming time for anyone, and that is especially true for business owners. When you’re trying to wrap up the year successfully, it can feel nearly impossible to enjoy the holidays. With everything on your to-do list, worrying about taxes shouldn’t be something you should have to stress about. That being said, tax deductions and credits at the end of the year are an essential part of wrapping up the year. Here are a few tips that can help you take advantage of tax payoffs while still managing to enjoy the most wonderful time of the year: 1. Remember independent contractors Throughout the year, you might have hired an independent contractor to do some work for you. Usually, you can claim that as a deductible. Be sure to give your independent contractors a form 1099 so you can claim that deduction. 2. Travel and meal expenses You’ve got to be careful with this one. While travel expenses can usually be deducted at 100 percent, meals and entertainment can only be deducted at 50 percent. It can be easy to get caught up with this one, so I usually recommend focusing on the smaller projects that have a bigger payoff first. 3. Take advantage of your tax credits Some tax credits are designed specifically to help out small business owners like you. The Small Business Health Care tax credit, for example, allows business owners to deduct a portion of health care premiums paid if they have fewer than 25 full-time employees. Working through these credits and claiming the right deductible can be tricky, so be sure to work with your accountant on this one. 4. Hire an accountant Speaking of accountants, did I mention you should hire one? I can go on and on giving you all the advice I can think of regarding the most useful advice regarding your 2018 taxes, but the real experts here are the accountants. Hiring one for your company can help you keep track of all the deductible expenses you’ve accumulated over the past year and will guarantee you get as much money back as possible. So much goes missed every year, and too many entrepreneurs are spending money out of their pocket and never getting it back. Don’t be one of them. 5. Stock up on supplies If you stock up on equipment and supplies before the end of the year, you can claim them as a deductible for this year’s tax refund. That way, you get your money back before you’ve even used your supplies. Talk about a steal! 6. Fill up your retirement savings Because most entrepreneurs don’t have a typical 401(k), they rely on an IRA. You can contribute up to $5,500 to your individual retirement account and claim it as a tax deductible. So fill that up before this year’s end so you can claim it on your 2018 tax refund! You already have enough to worry about, but getting as much money back in your taxes shouldn’t be cause for concern. If anything, it should get you excited for how you might spend that refund next year!