Is This Your Situation: Figuring Out What Expenses You Can Deduct?

“You can deduct that — it’s a business expense” is often casually tossed around, as if it gives business managers carte blanche to put anything they want on their tax forms. But the reality is more nuanced. To start with, says the IRS, not every expense you have is suitable for deduction; an expense must … Read more

More Will Have to E-File in New Year

New rules, issued in early 2023, change a wide range of filing requirements. The goal, according to the IRS, is to increase e-filing without undue hardship on taxpayers. Perhaps the biggest change is that the IRS has reduced the 250-return threshold enacted in prior regulations to generally require electronic filing by filers of 10 or … Read more