The structure of the traditional job market has shifted drastically in recent years and as more Americans are working from home, it’s important that they are correctly and accurately claiming home ...

The Fifth Circuit Court of Appeals upheld a Tax Court decision that a change in accounting method occurred when the IRS disallowed an accrual-basis taxpayer’s deduction for inventory purchased on ...

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 ...

Home-based business owners often use part of their home to conduct some or all their business activities. When your business meets the requirements set by the Internal Revenue Service, you are ...

You don't have much choice when it comes to whether to pay your taxes, but you can decide how to approach your tax deductions -- those allowable subtractions that can lower the amount you owe in taxes ...

If you worked remotely in 2024, you may be eyeing the home office deduction. However, qualifying for the tax break may be harder than you expect, experts say. Only 7% of companies allowed fully remote ...

Anyone who uses a car for business should know the costs associated with the miles you drive for your business are tax-deductible. Most years, when the IRS publishes its deductible cost-per-mile rates ...

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 ...

Self-employed individuals can deduct mileage and meal expenses on a tax form provided they are business-related; however, the deduction process is not as simple as giving a dollar amount. For 1099 ...

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 ...