#tax-deductions
Tax Deductions
Maximize tax deductions and reduce your tax liability legally
The Augusta Rule: How Business Owners Earn Tax-Free Rental Income (Section 280A Guide)
Section 280A(g) lets business owners rent their personal residence to their company for up to 14 days per year and exclude the income from federal tax. This guide covers eligibility, fair-market rate setting, the documentation auditors expect, and the lessons from Sinopoli v. Commissioner.
Engaged in a Trade or Business: The IRS Test That Decides Your Tax Bill in 2026
The IRS uses a nine-factor test under Section 183 to decide whether your side income is a business or a hobby. After the OBBBA took effect in 2026, hobbyists report income in full but can deduct no expenses against it — making the classification more consequential than ever.
The Small Business Software Stack for 2026 (And How to Deduct Every Subscription)
The average small business now pays for 18 software subscriptions a month. Here is which categories actually matter in 2026, what to budget, and how to deduct each one correctly on Schedule C.
Personal Tax Deductions and Credits: The 2026 Guide for Individuals
A line-by-line walkthrough of the 2026 deductions and credits that move the needle for individuals—the $16,100 standard deduction, the new $40,400 SALT cap, the $2,200 Child Tax Credit, the up-to-$8,231 EITC, and the new Schedule 1-A deductions for tips, overtime, and vehicle loan interest.
The Sales Tax Deduction in 2026: How the New $40,000 SALT Cap Could Save You Thousands
For 2026 the SALT cap rises to $40,000, reviving the sales tax deduction for homeowners and big-ticket buyers. Choose between sales tax and state income tax on Schedule A, use the IRS optional tables, and stack actual tax paid on vehicles, boats, or renovation materials on top of the table amount.
Self-Employment Tax in 2026: The Complete Guide for Freelancers and Independent Contractors
How self-employment tax works in 2026 — the 15.3% combined rate, the $184,500 Social Security wage base, the $400 filing threshold, quarterly estimated payment deadlines, the deductions that reduce both income and SE tax, and the income level where an S-corp election starts to pay off (typically $60K–$80K net).
Small Business Tax Deductions 2026: The Complete Master List
A category-by-category guide to every major small business tax deduction for 2026, including the $2,560,000 Section 179 cap, 60% bonus depreciation, the 68.5-cent mileage rate, the 50% meals rule, and the documentation needed to defend each one on audit.
17 SMB Tax Saving Strategies That Actually Move the Needle in 2026
A working playbook for small business owners filing in 2026 — covering the now-permanent QBI deduction, the $2.56M Section 179 cap, S-corp salary structure, Solo 401(k) limits up to $72,000, and the bookkeeping habits that make every other strategy survive an audit.
Sole Proprietorship Taxes: A Complete Guide to Schedule C, Self-Employment Tax, and Deductions
A practical 2026 walkthrough of how the IRS taxes sole proprietors — covering Schedule C, the 15.3% self-employment tax on 92.35% of net earnings, quarterly estimated payments, the QBI deduction, and the threshold where an S-Corp election starts paying off.
Tax Credits Explained: The Complete 2026 Guide for Individuals and Businesses
A 2026 reference for U.S. tax credits — how they differ from deductions, which credits are refundable, and the major individual and business credits with current dollar limits, including the $8,231 EITC max, $2,200 Child Tax Credit, and up to $9,600 WOTC per qualifying hire.
Are Tax Preparation Fees Deductible? A 2026 Guide for Business Owners and Self-Employed Filers
Personal tax prep fees are no longer federally deductible after the 2026 One Big Beautiful Bill Act, but business owners and self-employed filers can still deduct the business portion on Schedule C, E, F, 1065, 1120-S, or 1120—if they allocate and document it correctly.
Taxable Income Explained: What Counts, What Doesn't, and How to Pay Less in 2026
A precise 2026 guide to taxable income — which dollars the IRS counts (wages, tips, capital gains, cancelled debt), which are excluded (gifts, inheritances, Roth distributions, muni bond interest), the step-by-step AGI-to-taxable-income calculation, and seven legal strategies to reduce the final number, including new One Big Beautiful Bill Act deductions for tipped, overtime, and senior taxpayers.