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Self-employment tax: A refresher on how it works
Most small business owners are familiar with self-employment tax. Here’s a refresher on how it works and whether there’s a way to reduce it.
The nanny tax: What household employers need to know
In 2024, if you pay a household worker cash wages of $2,700 or more, you must withhold and pay nanny tax. What will the threshold be in 2025?
From flights to meals: A guide to business travel tax deductions
If you’re a small business owner, you want to take full advantage of the tax deductions allowed for business travel. They can reduce your taxable income. Safe travels and happy deducting!
Can homeowners deduct seller-paid mortgage points?
When you buy a house, can you deduct seller-paid points on your tax return? Here are the rules.
How your business can prepare for and respond to an IRS audit
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. See how to prepare for an IRS audit.
When can business travel expenses be deducted?
The rules surrounding tax deductions for business travel are complex. Here are some of the things you need to know.
Making the most of the home sale gain exclusion
Considering downsizing your home or moving? If so, be sure to check whether you’ll qualify for the tax-saving home sale gain exclusion.
Is your home office tax deductible? Here are the rules
While many people work from home, not everyone qualifies for home office deductions. Here are the rules for eligibility.
Understanding the $7,500 federal tax credit for buying an electric vehicle
Interested in buying a plug-in electric vehicle? You may be eligible for a valuable federal tax credit. Here are the rules.
It’s income tax planning time for your small business
2024 will be over soon enough. Here are some year-end tax planning moves to consider that may help your small business save on taxes.
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