Proving Basis in Your Home: The 2026 Cost of Bad Records
When you sell your home, the tax you owe on any gain depends in part on your tax basis—generally, what...
Tax Benefits When Hiring Your Children
If you have children and own a business, here is a strategy worth your attention: hire them. Consider one example:...
Protect Your Home-Office Deduction (Part 2)
In Part 1, we discussed how a home office can qualify even when you have only a few square feet...
The Home-Office Deduction for 3 Square Feet (Part 1)
Many business owners assume they cannot claim a home-office deduction because their home is too small. In fact, the tax...
Deducting the Loss on Your First Flip
If your first house-flipping project ended in a loss, don’t assume you’re limited to deducting only $3,000 per year. Depending...
Make Church and Charity Gifts into a Tax-Smart Business Deduction
Many business owners are passionate about supporting their churches, local charities, and community organizations. Giving back feels good, strengthens community...
The Biggest Mistakes Small Businesses Make When Hiring Summer Interns
This time of year, we get questions about summer interns. Sometimes a college student reaches out offering to "work for...
HSA Beneficiaries: What Small Business Owners Need to Know
Health Savings Accounts (HSAs) remain one of the most powerful tools available for tax-advantaged savings. For small business owners and...
Don’t Lose Your Goodwill Donation Deductions: Why Proper Documentation Matters
Donating clothing and household goods to charity is a meaningful way to give back—and it can also provide valuable tax...
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