Discover the essentials of IRS Code 162(a) for maximizing business deductions. Learn the intricacies of ‘ordinary and necessary’ expenses, the impact of Supreme Court interpretations, and how the Cohan rule affects your tax filings. Stay compliant and optimize your deductions with this expert guide.
Unravel the mystery of IRS TREAS 310 in your bank transactions! Learn what this IRS code means for tax refunds and government payments, and what steps to take if it appears on your statement.
Learn how to leverage real estate loss deductions on your taxes with strategies for active participation, the Augusta Rule, and real estate professional status. Ensure you’re saving effectively.
Explore how the Secure 2.0 Act allows rolling over unused 529 plan funds into a Roth IRA from 2024, including benefits, limitations, and key conditions.
Understand how to deduct business meals and entertainment expenses with our guide. Learn about the 50% and 100% deduction rules and how to qualify.
Learn how donor-advised funds can lower your tax bill through immediate deductions and reduced capital gains taxes. Discover the benefits and strategies.
Discover how engaging with bloggers, affiliate marketers, and influencers can create a sales tax nexus for your business, with insights on compliance and strategies.
Learn how to use IRS Form 8822-B to notify the IRS about changes in business address or responsible party to avoid missing critical communications.
Explore the benefits and setup process of a Solo 401(k) for small business owners, offering control over retirement savings and tax advantages.
Discover the IRS Direct File Project Pilot, aimed at simplifying tax filing through direct, free electronic submission options for taxpayers.
