You Volunteer Every Weekend. Here's What the IRS Actually Lets You Deduct
Volunteer hours are worth $0 on your return, but the IRS lets you deduct 14 cents a mile, supplies, and uniforms — and two 2026 changes shrink who benefits.
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Tax Deductions
Maximize tax deductions and reduce your tax liability legally
The Backyard Cottage P&L: What an ADU Really Costs, Earns, and Does to Your Taxes
ADU rental income goes on IRS Schedule E: split shared costs by square footage, depreciate the unit over 27.5 years, and plan for 25% recapture tax at sale.
Employee Achievement Awards: Tax-Free Service and Safety Recognition Within the $400 and $1,600 Limits
Tangible service or safety awards are tax-free under IRS rules up to $400, or $1,600 under a written plan; cash and gift cards count as taxable wages.
Your Business Cell Phone Can Be 100% Tax-Free: What the IRS Actually Requires
Employer cell phones are tax-free with no call logs under IRS Notice 2011-72 if provided for business reasons; internet needs an accountable plan and receipts.
Source-Code Escrow for Small SaaS Vendors: Terms, 2026 Fees, and the Bookkeeping
US SaaS vendors face enterprise escrow demands. Self-service plans start near $139/month and traditional agents around $2,200 — negotiate release triggers and book setup, annual, and verification fees.
Donate the Surplus, Deduct More Than It Cost: The Food-Donation Tax Break Most Businesses Miss
Section 170(e)(3) lets any business deduct donated food at cost plus half the markup, capped at twice cost — with a 15% net-income limit, a five-year carryover, and a Good Samaritan liability shield.
Section 179 Recapture: How the IRS Claws Back Your Deduction When Business Use Drops to 50% or Less
Section 179 recapture applies when business use drops to 50% or less in any recovery-period year: the clawback is ordinary income on Form 4797, Part IV.
Business Casualty and Theft Losses: Deducting a Disaster on Form 4684
Business casualty and theft losses skip the $100 and 10%-of-AGI floors, but are capped at adjusted basis, not replacement cost. How to measure the loss, handle insurance timing, and use the Section 165(i) prior-year election.
"Wig" Gets Denied, "Cranial Prosthesis" Gets Paid: Bookkeeping for Custom Wig Makers and Medical Hair Studios
Custom wig studios can bill medical clients under HCPCS code A9282 as a cranial prosthesis instead of a cosmetic wig sale — with insurance-ready invoices, physician prescriptions that unlock sales-tax exemptions, IRS Publication 502 deductions for clients, and separate books for cosmetic and medical revenue.
You Own the Land but Not the Minerals: How Lease Bonuses, Royalties, and Depletion Are Taxed
Oil and gas lease bonuses, delay rentals, and royalties are all ordinary income reported on Schedule E — but royalties qualify for 15% percentage depletion that can continue after your basis hits zero. How each payment is taxed, where it goes on your return, and the state traps to avoid.
The October 15 SEP IRA Second Chance: Fund Last Year's Retirement and Cut Last Year's Taxes
Extended your 2025 return? You can still open and fund a SEP IRA by October 15, 2026 (September 15 for S corps and partnerships) and deduct up to $70,000 — but Solo 401(k) elective deferrals for 2025 are gone for good.
ATM Vault Cash and Surcharge Bookkeeping: The Reconciliation Guide Every Independent Operator Needs
Vault cash is a balance-sheet asset, not revenue — an ATM dispensing $12,000 a month may earn only a few hundred dollars in surcharge and interchange. This guide shows independent ATM operators the journal entries, the weekly three-way match between e-journal, processor settlement and physical count, the full per-machine cost stack, and why cash loads are never deductions.