Helicopter View of Meals and Entertainment (2021-2022)

Have you missed partying and having business meals with your prospects, customers, and employees? Well, get ready to start again. Soon, COVID-19 will behind us. It could be just a few short months away. To help you get ready, check the table below for what you can do...

Using Whole or Partial Rooms for Your Home Office

With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms for your business use. Is that okay? Section 280A(c) states that you may claim a home office based on the portion of the...

All About Limited Liability Companies (LLC)

Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities. LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect...

Working at Home? Don’t Overlook These Deductions

Do you work from home? Whether or not you have a deductible office in the home, the assets such as desks and chairs that you use for business are deductible—and are often overlooked as business deductions. Whether you claim a business office in the home or are simply...

Use Your Business to Maximize Charitable Donations

Giving to your church, school, or other 501(c)(3) charity is a noble act no matter how you choose to give. But for the purposes of tax savings, some forms of giving are much more beneficial to you than are others. As a business owner, you can use some business...