Learn how to calculate depreciation for tax deductions using GAAP methods like straight-line and declining balance for optimal savings.

Looking to cut your tax bill? Knowing which small business tax deductions you can claim is crucial. This guide will cover the top 15 deductions that can save you money and improve your business’s ...

Working from home is much more common than it used to be. According to the U.S. Bureau of Labor Statistics, approximately 22.4 million American workers telecommuted for their jobs last year. Discover ...

Learn how the Asset Depreciation Range (ADR) helped determine asset life for IRS tax purposes and discover its successors, ...

Vehicle costs are among the best tax deductions for small businesses. Small business owners can deduct vehicle expenses on their tax return. If a vehicle is used for personal and business needs, the ...

Let’s face it — tax season can be stressful. This is especially true for self-employed individuals and small business owners searching out every self-employed tax deduction and navigating other small ...

Businesses that take a federal income tax deduction on the purchase of equipment are allowed in some situations to carry over the deduction from one year to the next, according to the Internal Revenue ...

The IRS issued new guidance to examiners in its Large Business & International (LB&I) Division regarding how to determine which taxpayer is entitled to claim the Sec. 199 domestic production ...