Social Media Ideas for Business Deductions

IRS Updates Business Interest Deduction Guidance Following Tax Law Changes

Revised FAQs for the business interest deduction explain changes to adjusted taxable income, floor plan financing, capitalization rules, and CFC inclusions.

Can an LLC Write Off a Car Purchase? How to Write Off a Car for Business Tax Deductions

Updated for tax year 2026. If you recently started an LLC or small business, you’ve probably heard you can write […] The post Can an LLC Write Off a Car Purchase? How to Write Off...

Too hot to deduct

A documented compensation study protects a growing C corporation's biggest deduction from being recast as a dividend.

7 Key Tax Benefits of Owning a Business You Should Know

Discover the 7 key tax benefits of owning a business that can significantly enhance your financial strategy. Learn how to maximize deductions, credits, and other advantages to opti...

What Is the QBI Deduction and How Does it Work?

Updated for tax years 2025 and 2026. You may qualify for the qualified business income deduction (QBI deduction) if you’re filing […] The post What Is the QBI Deduction and How Doe...

Newly employed? Know your tax deductions  

From home office costs to travel expenses, discover the tax deductions employees may qualify for and how to claim them properly. The post Newly employed? Know your tax deductions  ...

8 unexpected business expenses you can put on a card

Business owners have a range of expenses ordinary consumers don't. In many cases, they could be stacking up rewards on those transactions.

Key Ways to Reduce your Business Expenses

When you’re a mom running a business, you’re the CEO, the marketing department, the bookkeeper, and often, the janitor. Juggling all that means every dollar and every minute really...

The Evolution of Qualified Overtime Compensation Deductions: Analyzing IRS Fact Sheet FS-2026-13 and Its Practical Impli...

Internal Revenue Service, Fact Sheet FS-2026-13, “Updates to Questions and Answers About the New Deduction for Qualified Overtime Compensation” (August 2026) The enactment o...

Charitable Contribution Deduction Changes Under the OBBBA

A rundown of some of the more notable changes.

Tax Write-Offs for Musicians: What You Can Actually Deduct

Nobody gets into music because they love paperwork, but the receipts you’re shoving into a shoebox right now could be worth real money come tax season. Most musicians, whether play...

Why you should never throw away a bill

Tax authorities increasingly compare declared income with lifestyle, investments and spending patterns, making proper documentation crucial for both business deductions and persona...

Which States Allow Deductions for Overtime Pay in 2026?

The federal deductions for up to $25,000 in tipped income, for a similar amount of overtime pay, and for some auto loan payments have not been widely adopted by states. As of late...

How to Calculate Your Real Business Profit, Entrepreneur Explains

The businesswoman warned that transaction charges can easily be overlooked when calculating profits, which often eat into business operations.

The New Math — Part I of IV

What the OBBBA Changed and What a QSBS Exit Is Actually Worth Qualified Small Business Stock Under IRC §§1202 and 1045 — Part I of IV A founder who incorporated in 2023 and closed...

Double Books and Disguised Payees: Corporate Personal Expenses and the Civil Fraud Penalty in Prezioso v. Commissioner

Walter D. Prezioso & Kimberly J. Prezioso v. Commissioner, T.C. Memo. 2026-63, July 28, 2026 The taxpayer, Walter D. Prezioso, joined GSP Precision, Inc. (GSP)—an aerosp...

How to File Business Taxes €“ a Step-By-Step Guide

Learn how to file business tax with our comprehensive step-by-step guide. Simplify the process, understand key requirements, and ensure compliance to maximize your deductions and m...

Treasury’s Excluded Property Sales Income Regulations under Section 250: Deconstructing the Proposed Guidance for Tax Pr...

Application of Section 250(b)(3)(A)(i)(VII) to Sales or Other Dispositions of Property, REG-117130-25, 91 Fed. Reg. _____ (proposed Aug. 20, 2026) (to be codified at 26 C.F.R....

What Your Small Business Should Be Doing Right Now to Cut Its 2026 Tax Bill

A few tax moves cost nothing today and simply need to exist by December 31. Here's what to put in place now, while the option is still open.

IRS updates overtime deduction FAQs, adds reporting details

Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The...

Unmasking the $70 Million Dubai Fraud: A Technical Analysis of Section 165 Theft Loss Deductions in Deutsch v. Commissio...

Deutsch v. Commissioner, T.C. Memo. 2026-66, August 12, 2026 For tax professionals representing clients who have fallen victim to fraudulent investment schemes, securing a the...

IRS updates guidance on overtime deduction

The Internal Revenue Service has updated the questions and answers in its fact sheet on the new overtime deduction under the One Big Beautiful Bill Act, now known as the Working Fa...

Qualified Small Business Stock Is Now Even More Valuable- What NC Business Owners Need to Know About Changes in the One...

Commingled Funds, Unsubstantiated Deductions, and the Binding Form of Transactions: A Technical Tax Analysis of Reed v....

Scott L. Reed and Stacy N. Reed v. Commissioner of Internal Revenue, T.C. Memo. 2026-64, Docket No. 13757-20 (August 5, 2026) The United States Tax Court’s recent decision in...