The qualified small business income (QBI) deduction, created by the Tax Cuts and Jobs Act of 2017 as a way for owners of pass-through entities to get … Read more about What Should Congress Do About the QBI Deduction?
5 Tax Traps for Claiming a Home Office Deduction
Last year, Fundera reported that 50% of all businesses in the U.S. operate from home, and that 60% of home-based businesses are “nonemployer” … Read more about 5 Tax Traps for Claiming a Home Office Deduction
Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2023
This year’s book, J.K. Lasser’s 1,001 Deductions and Tax Breaks, reflects the tax rules as they stood on December 1, 2022. But tax law is not static … Read more about Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2023
A Tax Portrait of Business Owners
With National Small Business Week recently passed, it’s a good time to look at how business owners appear on their personal tax returns. The IRS’s … Read more about A Tax Portrait of Business Owners
10 Things to Know about Business Meals
You gotta eat, right? But when it comes to meals, what’s business and what’s personal? If it’s personal, nothing is deductible, but if it’s a business … Read more about 10 Things to Know about Business Meals
Consolidated Appropriations Act, 2021: What’s in It for You?
On December 27, 2020, a massive new law was signed by the President to fund the federal government through the end of fiscal year 2021 (September 30, … Read more about Consolidated Appropriations Act, 2021: What’s in It for You?
Government Incentives for Small Businesses: What’s in It for You?
Governments -- federal, state, and local — provide a variety of economic incentives to encourage businesses to hire workers, invest in capital … Read more about Government Incentives for Small Businesses: What’s in It for You?
Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2020
The tax law is not static. Since the publication of this book, Congress has enacted a massive spending measure—the Further Consolidated Appropriations … Read more about Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2020
Deducting Business Meals
The Tax Cuts and Jobs Act eliminated any deduction for entertainment costs, so taking a customer to a ballgame or an associate to the theater is not … Read more about Deducting Business Meals
Killing Tax Deductions for Bad Actions?
It’s been said that lawsuits are the cost of doing business. Individuals and businesses may be caught in bad behavior, but often these bad actors can … Read more about Killing Tax Deductions for Bad Actions?
Tax Deductions for Cybersecurity
Cybersecurity describes measures you take to protect your computer and information from unauthorized access. Concerns about cybersecurity are … Read more about Tax Deductions for Cybersecurity
