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Business Trip Deductions

Self-employed? Don’t overlook valuable tax deductions

Leave a Comment / Education Tax Breaks, Federal Income Tax, Home Office Deduction, Independent Contractors, Self Employed, Self Employment Tax, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Sole Proprietors, Tax Deduction, Tax-Deductible Business Expenses /

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 for sole proprietors and independent contractors, and five examples of expense deductions that are commonly overlooked or misunderstood. Filing basics Sole proprietors and independent contractors must report their business activity […]

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Traveling for business this summer? Here’s what you can deduct

Business Meals and Entertainment, Business Travel Deductions, Business Travel Expense, Itemized Deduction, Self Employed, Small Business, Small Business Tax Tips, Tax Cuts and Job Acts (TCJA) /

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim deductions, you must meet certain requirements for out-of-town business travel within the United States. The rules apply if the business conducted reasonably requires an overnight stay. Note:

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