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Small Business Tax Deductions 101: What You Can (and Can’t) Write Off

inDinero Accounting

As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. So, buckle up as we embark on this journey through the labyrinth of small business tax deductions, uncovering often-overlooked opportunities and strategies to maximize your tax savings. Choose wisely.

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How Paying Off Your Student Loans Could Increase Your Retirement Benefits

Withum

A student’s cost of attendance generally includes tuition and fees (net of certain amounts including scholarships) and an allowance for room and board, books, supplies, transportation, and miscellaneous expenses of the student. Business Tax Services. Contact Us. Contact Us.

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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

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How to Deduct Business Expenses While on Vacation

CPA Practice

This includes all costs associated with travel by airplane, train, bus, or car between your home and your business destination. Other expenses that are deductible include the following: Fares for taxis or other types of transportation. Use of your personal vehicle for business trips. Dry cleaning and laundry.

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How Democrats’ New Budget Deal Boosts Tax Credits for Renewable Electricity Production

Withum

An energy community includes a brownfield site or an area that has significant employment related to extraction, processing, transport, or storage of coal, oil or natural gas. For more information on this topic, please contact a member of Withum’s Business Tax Services team. Contact Us. Let’s Chat.

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QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. Table of Contents What is the QSBS Exemption?

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Is the Future of Cannabis in the Hands of E-Commerce?

Withum

Specific to the cannabis industry, regulations have to do with handling, transport and sales in general. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Author: Kim Gordon | kgordon@withum.com. Contact Us. Let’s Chat. appeared first on Withum.