Actual Expenses – Deduct costs like gas ... and seeking professional advice, small business owners can make the most of their tax savings. Remember—every dollar saved on taxes is one you ...

"Commuting expenses are not tax deductible, even for business owners," Milla Liberson ... the home office deduction can be one of small businesses's most powerful tax breaks," Lovison said.

As a small business owner, you typically need to spend money to make money. The upside? You can deduct qualifying business expenses on your taxes to lower your overall tax liability. But how do ...

A claim for expenses can only be made if they're related to your income. Do materials count as a business expense? If you're a small business owner and your manufacturing supplies are treated as a ...

In what’s sure to be welcome news for small and ... the deduction decreases on a dollar-for-dollar basis. Companies can purchase or finance eligible new and used business equipment, and deduct ...

Just because you work from home doesn't mean you can deduct a home office on your taxes. Here's how to qualify for the deduction and how to take it.

Can I claim my accountant fees on tax? The answer is, in a nutshell, yes. Tax returns and activity statements can be deducted from the tax you owe if you incur expenses during the process of managing, ...

On Dec. 21, Congress clarified rules on the program’s tax ramifications, leaving thousands of small ... business owners no longer need to worry about such an absurd scenario, and we can now ...

I have practiced public accounting for 21 years and can tell you without doubt that the 20% small-business deduction has been the single most beneficial tax deduction for small-business owners.

“We can go down a partisan ... s local economy and support other small businesses. She added that many business owners may not be aware of the deduction’s potential end, and the uncertainty ...

So who can take home office deductions? Home office deductions only apply to small business owners who are self-employed. If you do freelance work unrelated to your regular job at home ...