Strategic growth for entrepreneurs often gets blocked by outdated assumptions and “rules of thumb” that don’t hold up in today’s business environment. Let’s bust some of the biggest Exit Planning Myths so you can avoid costly mistakes and set your company on the right path.

Many small business owners believe that strategic planning is something only large corporations need. The assumption is that Fortune 500 companies have the resources, staff, and time to plan, while small business owners should simply “work harder” and focus on day-to-day survival.

Running a small business is rewarding, but it also comes with costs. The good news? Many of those expenses can be deducted to reduce your taxable income. Understanding these small business write offs not only saves money but also helps you reinvest in growth. Here are 10 of the most valuable tax deductions every small business owner should know.

Many business owners believe: “If a buyer needs financing or asks for a seller note, it means they can’t afford my business—or worse, that the deal isn’t safe.”