Business Deductions
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Business deductions for four-legged coworkers
Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working…
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New law eases the limitation on business interest expense deductions for 2025 and beyond
Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful…
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What you need to know about deducting business gifts
Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also deliver tax benefits when handled correctly. Unfortunately, the…
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DOs and DON’Ts to help protect your business expense deductions
If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or…
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The One, Big, Beautiful Bill could change the deductibility of R&E expenses
The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies focused on innovation. As the…
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Can you turn business losses into tax relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be…
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