Record Keepig Requirements for Deductions
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Self-employed? Don’t overlook valuable tax deductions
If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements…
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Are you eligible for mileage deductions?
Whether you’re filing your 2025 individual income tax return or planning for 2026, it’s important to know if you can deduct vehicle-related expenses. A change…
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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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Tax Court case provides lessons on best recordkeeping practices for businesses
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance…
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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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From flights to meals: A guide to business travel tax deductions
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax…
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