If you’re one of the more than 3.4 million taxpayers who claimed deductions for business use of a home (commonly referred to as the home office deduction)–but haven’t taken advantage of it because you thought it was too complicated–then you might be interested in the simplified option. Available since tax year 2013, the optional home […]
Home Office Tax Deduction The Simplified Option Read More »
In today’s digital age, an increasing number of Americans are working from home. Whether it is for to run a small business or to telecommute for an employer, the home office deduction is used by more taxpayers than ever before. There is some confusion, however, about what qualifies as a home office and which expenses
5 Tips for Making the Most of Your Home Office Tax Deduction Read More »
Small businesses often struggle to make ends meet. In today’s economy, every dollar counts and entrepreneurs need to find any way possible to enhance their bottom line. Fortunately, business owners have numerous available tax deductions to help reduce their overall liability. Some deductions, however, go unclaimed because owners are afraid of raising a red flag
5 Commonly Overlooked Small Business Tax Deductions Read More »
In an effort to lower the carbon footprints of homeowners, the federal government is offering tax credits for energy efficient items covering a number of categories. Unlike deductions, these dollar-for-dollar credits can significantly reduce your tax bill if you qualify. If you operate your small business out of your home, this could save you some
Important Energy Tax Credits Read More »
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