211 tagged with "Tax Deductions"
Maximize tax deductions and reduce your tax liability legally
Self-Employment Tax in 2026: The Complete Guide for Freelancers and Independent Contractors
How self-employment tax works in 2026 — the 15.3% combined rate, the $184,500 Social Security wage base, the $400 filing threshold, quarterly estimated payment deadlines, the deductions that reduce both income and SE tax, and the income level where an S-corp election starts to pay off (typically $60K–$80K net).
Small Business Tax Deductions 2026: The Complete Master List
A category-by-category guide to every major small business tax deduction for 2026, including the $2,560,000 Section 179 cap, 60% bonus depreciation, the 68.5-cent mileage rate, the 50% meals rule, and the documentation needed to defend each one on audit.
17 SMB Tax Saving Strategies That Actually Move the Needle in 2026
A working playbook for small business owners filing in 2026 — covering the now-permanent QBI deduction, the $2.56M Section 179 cap, S-corp salary structure, Solo 401(k) limits up to $72,000, and the bookkeeping habits that make every other strategy survive an audit.
Sole Proprietorship Taxes: A Complete Guide to Schedule C, Self-Employment Tax, and Deductions
A practical 2026 walkthrough of how the IRS taxes sole proprietors — covering Schedule C, the 15.3% self-employment tax on 92.35% of net earnings, quarterly estimated payments, the QBI deduction, and the threshold where an S-Corp election starts paying off.
Tax Credits Explained: The Complete 2026 Guide for Individuals and Businesses
A 2026 reference for U.S. tax credits — how they differ from deductions, which credits are refundable, and the major individual and business credits with current dollar limits, including the $8,231 EITC max, $2,200 Child Tax Credit, and up to $9,600 WOTC per qualifying hire.
Are Tax Preparation Fees Deductible? A 2026 Guide for Business Owners and Self-Employed Filers
Personal tax prep fees are no longer federally deductible after the 2026 One Big Beautiful Bill Act, but business owners and self-employed filers can still deduct the business portion on Schedule C, E, F, 1065, 1120-S, or 1120—if they allocate and document it correctly.
Taxable Income Explained: What Counts, What Doesn't, and How to Pay Less in 2026
A precise 2026 guide to taxable income — which dollars the IRS counts (wages, tips, capital gains, cancelled debt), which are excluded (gifts, inheritances, Roth distributions, muni bond interest), the step-by-step AGI-to-taxable-income calculation, and seven legal strategies to reduce the final number, including new One Big Beautiful Bill Act deductions for tipped, overtime, and senior taxpayers.
The US Tax Code Explained: A Practical Guide for Small Business Owners
A structural breakdown of Title 26—the Internal Revenue Code—covering how the tax code is organized, the 2026 changes most relevant to small businesses (permanent 100% bonus depreciation, a $2.5M Section 179 cap, expanded QBI), and the records you need to defend every deduction you claim.
How to Deduct Website Development Costs: A Tax Guide for Small Business Owners
A category-by-category breakdown of how small businesses deduct website costs in 2026 under Section 174A, including the OBBBA retroactive election deadline of July 6, 2026, and where each expense lands on Schedule C.
Business Travel Tax Deductions in 2026: What You Can (and Can't) Write Off
A 2026 guide to deducting business travel on Schedule C — covering the IRS tax home rule, the $178 CONUS per diem, 50% meal limits, 75% international business-day threshold, and the documentation habits that survive an audit.
Personal Appearance Tax Deductions: What You Can (and Can't) Write Off
The IRS applies a two-part test to personal appearance expenses: the item must be required by your work and unsuitable for everyday use. Most suits, makeup, haircuts, and gym memberships fail. This guide details what qualifies, with case law including Pevsner v. Commissioner and Hamper v. Commissioner.
Property Tax Deduction in 2026: New $40,400 SALT Cap, Rules, and Strategies
The 2026 SALT cap rises to $40,400, restoring the property tax deduction for many homeowners in high-tax states. Here are the new rules, the MAGI phaseout starting at $505,000, the income-based deductions, and the bunching, recordkeeping, and rental-property strategies that maximize the benefit.