Small Business Tax Deductions
Just like your personal federal income taxes, you can claim deductions to lower the taxable income of your business. Here, you can find all the available tax deductions for businesses and requirements for claiming them.
-
Are OTC Medications Tax Deductible?
When tax season rolls around, finding ways to reduce your taxable income is always a good idea. A common question…
-
Can I Pay Off Someone Else’s Credit Card and Deduct Those Expenses?
Paying off someone else’s credit card is a generous act, but when tax season rolls around, you might wonder if…
-
Can I Expense Alcoholic Drinks at Happy Hour for My Business?
Navigating the intricate world of business expense deductions can be challenging, especially when it comes to entertaining clients and potential…
-
How Much Stock Loss Can You Claim on Taxes?
Navigating the complex landscape of tax deductions for stock losses can be a crucial financial strategy for investors seeking to…
-
Is Mortgage Deductible for Home Office? A Comprehensive Guide
For many business owners working from home, one of the most common questions when tax season rolls around is: “Is…
-
Are Marketing Campaigns Tax Write-Offs?
When running a business, marketing campaigns are essential for growth and customer engagement. However, many business owners wonder whether these…
-
Honeymoon or Business Trip? Understanding Tax Rules for Business Expenses
Combining personal trips like honeymoons with business travel might seem like a smart way to reduce costs, but it raises…
-
Are Haircuts Tax Deductions for Self-Employed?
The question of whether haircuts are tax deductions for self-employed individuals often arises when considering business expenses. While self-employed taxpayers…
-
Instacart Tax Filing Guide: Everything You Need to Know
If you’re an Instacart shopper or delivery driver, filing taxes can seem daunting, especially if this is your first year…
-
How Much of Cell Phone Bill is Tax Deductible?
This article addresses the question, “How much of your cell phone bill is tax deductible?” Understanding the nuances of tax deductions related to cell phone…