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Article Category: Can I Deduct?

Can I Deduct My Phone Bill as a Business Expense?

Posted by & filed under Can I Deduct?, Self Employed & 1099 Contractors, Taxes.

If you are anything like the vast majority of Americans who rely on their phones for professional communication, news updates, or social interactions, you probably utilized your device for business-related purposes at some point. As with other tools that you use during the regular course of your venture, this would mean that you should be… Read more »

Can I Write Off My Education As A Business Expense?

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Many people refer to education as “the best investment that you’ll ever make.” There is no doubt that education has played an important role in many successful careers. Education can help guide you towards a successful career. Education can also open up some incredible networking opportunities. Education can be quite expensive, as well. If you… Read more »

Can Businesses Deduct Donated Services?

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  Savvy business owners know that every expense should be meticulously tracked so each payment can be properly accounted for at tax time. Virtually every dollar of expenditures can be used to offset your income, which decreases your company’s income tax obligations. Ensuring you are properly tracking costs will help you take full advantage of… Read more »

Can Independent Contractors Take the Qualified Business Income Deduction?

Posted by & filed under Can I Deduct?, Self Employed & 1099 Contractors, Taxes.

After the Tax Cuts and Jobs Act was passed in 2017, business owners saw major changes to the way that they will be taxed moving forward. For instance, corporations’ tax rate that had previously been 35% for larger filers dropped down to 21%. Given such a large drop in tax liability that would yield millions… Read more »

Home Office Tax Deductions for Remote Workers

Posted by & filed under Can I Deduct?, Taxes.

As the global pandemic spread across the world earlier this year, millions of Americans started working from home in order to minimize their exposure to the deadly virus. Doing so has resulted in a lot of individuals slowly shifting from being employees to working as independent contractors who receive 1099 income. So, in terms of… Read more »

Tax Deductions for Vehicles Over 6,000lbs

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If you operate a business, searching for tax deductions is probably something that becomes a part of your daily regime as the April 15th deadline approaches each year. In case your business is or includes some form of transportation, however, there is a good chance that you ran into specific deductions for vehicles weighing over… Read more »