199A QBI Deduction
Overview Many individuals, including owners of businesses operated through sole proprietorships, partnerships, S corporations, trusts, and estates, may be eligible for a qualified business income deduction, also called the section 199A deduction. Some trusts and estates may also claim the deduction directly. The deduction allows them to deduct up to 20 percent of their qualified […]
Small Businesses Vehicle Deductions
Small businesses that use a car or other vehicle may be able to deduct the expense of operating that vehicle on their taxes. Businesses generally can use one of the two methods to figure their deductible vehicle expenses: Methods to Deduct Vehicle Expenses 1. Standard Mileage Rate 2. Actual Car Expenses Standard Mileage Rates for […]
Armed Forces Are Entitled To Certain Tax Benefits
Members of the military and their families often qualify for special tax benefits. For example, members of the armed forces don’t have to pay taxes on some types of income. In addition, special rules could lower the tax they owe or allow them more time to file and pay their federal taxes. Special Tax Benefits […]
IRS Tax Appeal Attorney
A taxpayer might, at some point, see the IRS make a decision about their taxes. If the taxpayer disagrees with this decision, they have the right to appeal it. The right to appeal an IRS decision in an independent forum is one of 10 basic rights known collectively as the Taxpayer Bill of Rights. Key […]