These tax deductions for small business owners may surprise you
Small business owners should always work with an accountant at tax season to ensure everything is properly filed. Thankfully ...
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18 small-business tax deductions worth knowing
The IRS provides special tax write-offs for taxpayers who are business owners, including for home office expenses, car expenses, and even some personal costs such as health insurance premiums.
Expand Deduction for Service Businesses, CPA Group Asks Congress
The American Institute of CPAs is asking the Congressional tax-writing committees to broaden a deduction used by partnerships ...
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Summary of Tax Proposals in Leaked Document Detailing Policy Proposals
On January 17, 2025, news sources reported that Republican members of Congress circulated a detailed list of legislative ...
Case: Taxpayers Not Entitled to Deductions for Business Expenses or Losses (T.C. Memo)
Taxpayers were not entitled to deduct payments made related to out-of-state businesses as business expenses or losses, held the U.S. Tax Court, sustaining the IRS’s determinations of tax and additions ...