From the IRS: Small business owners should find out if they can benefit from claiming this deduction The home office deduction can help small business owners save money on their taxes. Taxpayers can take this deduction when they file their taxes if they use a portion of
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On August 8, 2018, the IRS issued proposed regulations related to the Qualified Business Deduction (Section 199A) which allows for pass-through businesses and sole proprietorships to deduct 20% of their “qualified business income”. Section 199A is complex with many varying facets and limitations to the deduction, including
Read more →You may not know about the Alternative Minimum Tax because you’ve never had to pay it before. But if you have had to pay it, you may have wondered what in the world it is for and how it is figured. The AMT is an income tax imposed at
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If you owe federal tax, the IRS offers many ways to pay. Make sure you pay by the April 18 deadline, even if you get an extension of time to file your 2015 tax return. Here are some of the ways to pay your tax: Use Direct
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