Learn how to calculate depreciation for tax deductions using GAAP methods like straight-line and declining balance for optimal savings.

The home office tax deduction is a tax break that some self-employed people who work from home can take advantage of. Here's what you need to know.

Looking to cut your tax bill? Knowing which small business tax deductions you can claim is crucial. This guide will cover the top 15 deductions that can save you money and improve your business’s ...

Discover how same-year tax deductions apply to capital expenditures, with insights into Section 179 deductions and the difference between CapEx and OpEx for tax purposes.

Vehicle costs are among the best tax deductions for small businesses. Small business owners can deduct vehicle expenses on their tax return. If a vehicle is used for personal and business needs, the ...

Let’s face it — tax season can be stressful. This is especially true for self-employed individuals and small business owners searching out every self-employed tax deduction and navigating other small ...

The White House has reported that, on average, Americans will receive about $1,300 more in their pocket through the deduction.

Businesses that take a federal income tax deduction on the purchase of equipment are allowed in some situations to carry over the deduction from one year to the next, according to the Internal Revenue ...