The structure of the traditional job market has shifted drastically in recent years and as more Americans are working from home, it’s important that they are correctly and accurately claiming home ...

You don't have much choice when it comes to whether to pay your taxes, but you can decide how to approach your tax deductions -- those allowable subtractions that can lower the amount you owe in taxes ...

Learn about IRS Publication 535, crucial for business owners to understand deductible expenses to reduce taxable income.

Under the safe harbor method, the allowable deduction is calculated by multiplying the square footage of the portion of the taxpayer's residence that is used in a qualified business, not to exceed 300 ...

In a notice of a proposed revenue procedure (Notice 2019-27), the IRS on Tuesday provided methods of calculating W-2 wages for purposes of Sec. 199A(g)(1)(B)(i), which limits the amount of a deduction ...

One of the most popular deductions taken by self-employed taxpayers is the home office deduction. In fact, according to the latest data from the IRS, nearly 3.4 million taxpayers claimed the deduction ...

Anyone who uses a car for business should know the costs associated with the miles you drive for your business are tax-deductible. Most years, when the IRS publishes its deductible cost-per-mile rates ...

The IRS has announced the new standard mileage rates for 2026. See the updated rates for business, medical, and moving ...

At the start of the pandemic, the number of people working from home increased significantly—but not all of them will qualify for the home office deduction. If you are self-employed or a partner, ...

Working at home has come a long way from the days when employers were most concerned that they would not get their money’s worth if they allowed employees to do so. Instant communication, improved ...