When it comes to generating wealth, you can either earn more or keep more. As the federal deficit has climbed to record levels, the federal government has begun to try to “earn” more by focusing on small businesses and the taxes they are currently paying. In order to survive, entrepreneurs will have to reciprocate by being diligent about taking every credit and deduction that is legally allowable. Earning more comes naturally to entrepreneurs, given that the very nature of business is to develop a product or service in order to generate revenue. In addition, entrepreneurs understand that minimizing expenses leads to greater profits; however, most business owners find thinking of the taxes they pay on their business as a reducible expense to be less intuitive.