Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But it’s not available to C corporations or
business deductions Archives - Crawford Ellenbogen
Aug 10, 2022
Feb 15, 2022
Keeping meticulous records is the key to tax deductions and painless IRS audits
- By Joan Ellenbogen
- Business
- 0 Comments
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported