Accounting Web Archives

Keys to Unlocking the Home-Office Deduction

The IRS recently reminded small business owners – especially individuals who are self-employed – that there are two methods of deducting home-office expenses. A lesser-known “simplified” method can provide a flat-dollar write-off without the usual recordkeeping hassles. But what the IRS didn’t say is this: Many taxpayers will be in line for a bigger deduction if …read more

Take Advantage of Business Equipment Tax Incentives for 2016

Do you need to replace outmoded or worn-down equipment used in your small business? Thanks to the Protecting Americans from Tax Hikes (PATH) Act, which was signed into law late last year, you may be entitled to double-barreled tax relief. However, to ensure that you qualify for the tax benefits on your 2016 return, you …read more