For example, if your home office is one-tenth of the square footage of your house, you can deduct 10% of the cost of your ...

Small business owners can reduce taxable income by deducting various business expenses, including vehicle costs, travel, home ...

If you work from home, the home office tax deduction can lower your tax bill — but only if you qualify. The key rule is simple: self-employed workers usually qualify, W-2 employees generally don’t.

Let’s face it — tax season can be stressful. This is especially true for self-employed individuals and small business owners searching out every self-employed tax deduction and navigating other small ...

Don’t let its name fool you: The so-called “manufacturers’ tax deduction” applies to a much broader range of industries than those traditionally associated with manufacturing. And your business could ...

Cars are one of the most expensive items to own, both in terms of the initial investment we make in them and in the cost of ongoing maintenance. Fortunately, there are valid ways to offset these ...

In a notice of a proposed revenue procedure (Notice 2019-27), the IRS on Tuesday provided methods of calculating W-2 wages for purposes of Sec. 199A(g)(1)(B)(i), which limits the amount of a deduction ...

You sit down to file your taxes, click through your software, and accept the standard deduction without giving it a second thought. For years, that shortcut made sense for most filers, and the IRS ...

Don’t let its name fool you: The so-called “manufacturers’ tax deduction” applies to a much broader range of industries than those traditionally associated with manufacturing. And your business could ...