Small business owners should always work with an accountant at tax season to ensure everything is properly filed. Thankfully ...

The home office deduction could provide a tax break on your 2024 return. Here’s who qualifies and how to claim it.

Still going strong after nearly 40 years in business, Sue Covington has no plans to slow down or retire. In fact, she ...

The Old Tax Regime remains popular due to its various deductions and exemptions, including those in Sections 80C and 80D of the Income Tax Act. For instance, Section 80C allows deductions of up to ...

The mortgage tax break is one of the most common. It enables you to deduct the home mortgage interest on the first $750,000 ...

The Taxpayer Certainty and Disaster Relief Act of 2020 temporarily boosted the business deduction for food and beverages to 100%, including tax and tip, for 2021 and 2022. Note, entertainment ...

The change, part of a much larger overhaul of tax policy, limited deductions for state and local taxes — SALT in the political vernacular — on federal tax returns to $10,000. The limit has the ...

Your business will also have access to special tax deductions that aren't available to sole proprietors or partnerships. As the corporation's owner, you are not personally liable for business ...