Deductions
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The COVID-19 relief law: What’s in it for you?
The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of…
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New law doubles business meal deductions and makes favorable PPP loan changes
The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains…
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The right entity choice: Should you convert from a C to an S corporation?
The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to…
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The next estimated tax deadline is January 15 if you have to make a payment
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS…
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Can you qualify for a medical expense tax deduction?
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard…
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The tax rules for deducting the computer software costs of your business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale…
Read More: The tax rules for deducting the computer software costs of your business
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