#tax-deductions
Maximize tax deductions and reduce your tax liability legally
An accrual-basis deduction needs a fixed liability, a determinable amount, and economic performance under IRS Section 461(h) — miss one and it moves a year.
C corporations deduct 50%, 65%, or 100% of dividends received — once the stock clears the 45-day holding period. IRS tiers, limits, and traps explained.
IRS de minimis safe harbor — expense business items up to $2,500 ($5,000 with audited financials) with a written policy plus an annual election.
Form 4562 reports Section 179, bonus and MACRS depreciation across six parts — expense first, bonus second, MACRS on the rest.
Lump sum at a fixed rate versus draws as needed at a variable rate — and the IRS allows the interest deduction only when the money improves your home.
CapEx buys assets you depreciate over years; OpEx covers costs you deduct now — and Section 179 plus the $2,500 safe harbor blur the tax line.
An EFA is an installment sale — you own the equipment from day one, repay fixed payments with no stated interest rate, and deduct it under IRS Section 179.
Form 1040-SR is the large-print IRS return for filers 65 and older, with a built-in chart for the $2,000-plus senior standard deduction boost.
Global Entry ($120/5 yrs) bundles PreCheck; CLEAR runs $200+/yr. Deduct the business share on Schedule C; employers reimburse tax-free via an accountable plan.
Vehicles and cameras lose accelerated depreciation unless business use tops 50% — and only a contemporaneous mileage log proves it. The tests, caps, and forms.
The VA funding fee runs 2.15% on first use and 3.3% after — and the IRS lets 2026 itemizers deduct it as mortgage interest.
Personal use over 14 days or 10% of rental days makes your vacation home a residence under IRS rules — and caps rental deductions at rental income.
