TaxAudit Blog

Groceries you buy for your household are a personal expense and are not deductible. But there are numerous cases in which food can be deductible.

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How do I write off solar panels for rental properties when I claim as a real state professional to run a rental business?

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If you want to deduct your first-class airfares, be aware that the IRS may question you about these expenses and will make its decision based on each trip.

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The deduction of any expenses, including snacks for riders from rideshare drivers, depends on your personal facts and circumstances. Let's explore more.

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The IRS regards your personal driver’s license as a nondeductible expense. A commercial driver’s license that is required for your business may be deductible.

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Whether you can write off karate classes on your taxes relies heavily on your personal circumstances. Let's explore more.

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Employees cannot deduct dry-cleaning costs on federal taxes until 2026, but self-employed individuals can take the deduction by meeting 3 qualifying tests.

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Yes, you can deduct your business meals – but there are conditions that must be met. Under normal circumstances, qualifying business meals are 50% deductible.

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Accountant fees for a business purpose are generally deductible, but when those fees are incurred for a personal purpose, they are currently not deductible.

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The qualified business income deduction is calculated by taking the income and losses from all your business activities and netting them into one amount.

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Yes, you can deduct interest on your business and personal credit cards to the extent that the interest relates to business expenses. Let's explore more.

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For many taxpayers who operate small businesses, the qualified business income deduction can be an excellent way to reduce your income taxes.

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There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

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Trade or business property is considered section 1231 property. For taxation purposes, section 1245 or 1250 applies depending on the property’s characteristics.

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If you are a small business owner, you may have heard about net operating losses. If you have one, it may create a reduction in your taxes in other years.

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If you operate a business from inside your home, the home office deduction can be one of the largest deductions you can take as a tax write-off.

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My wife drives to transport our granddaughter to our house to watch for the day. Is this to-and-from mileage deductible as a job-related expense?

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When you prepare your federal income tax return, your business may incur a loss. Here are the tax implications if you have suffered a net operating loss.

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Your audit defense membership with TaxAudit provides expert representation for each tax return year for which you have a membership.

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There are several federal and state agencies that may have an interest in questioning a business’ operations, income, and expenses after it is closed.

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When operating a business, the last thing you want to worry about is being audited by the IRS or a state agency. Record keeping should be a high of a priority.

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Credit card interest for personal expenses is generally not deductible. However, credit card interest connected to trade or business expenses can be deductible.

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The IRS has published a “Dirty Dozen” list to warn taxpayers to beware of joining the thousands of people who lose millions of dollars to scammers each year.

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If you are the sole proprietor, the chance of being selected for audit by the IRS is 4.5 to 12 times higher than it is individuals without a business.

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Under current federal law, union dues are generally not deductible. However, there are a few exceptions, and if your union dues meet one of them you are in luck

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If you have unreimbursed business expenses as an employee, then those expenses are generally no longer deductible on your 2019 federal tax return.

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Even if you cannot deduct your unreimbursed business expenses for your federal return, you may still be able to deduct them for your state return.

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When it comes to the deductibility of business expenses the answer is likely to be “Yes, No, Maybe So, or Not Now.” Here are a few examples to consider.

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The fact is that running your own business increases your chances of being audited by the IRS or your state tax agency.

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Deductions for expenses considered to be entertainment, amusement or recreation have basically been eliminated except for the deductibility of business meals.

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With the costs of obtaining a Master of Business Administration skyrocketing - often costing up to $80,000 - you might be wondering: is my MBA tax deductible?

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