Here’s what business owners need to know about tax provisions for 2022:
Archived Posts: Standard Mileage Rates
Deducting Business-related Car Expenses
If you're self-employed and use your car for business, you can deduct certain business-related car expenses. The first thing small business owners need to know is that there are two options for claiming deductions: Actual Expenses. To use the actual expense method, you need to figure out the actual costs of operating the car for business use. You are allowed to deduct the business-related portion of costs related to gas, oil, repairs, tires, insurance, registration fees, licenses, and...
Important Tax Changes for Individuals and Businesses
Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead.
Small Business Taxpayers: The Year in Review
Here’s what business owners need to know about tax changes for 2021.
Business Tax Provisions: The Year in Review
Here's what business owners need to know about tax changes for 2020. Standard Mileage Rates The standard mileage rate in 2020 is 57.5 cents per business mile driven. Health Care Tax Credit for Small Businesses Small business employers who pay at least half the premiums for single health insurance coverage for their employees may be eligible for the Small Business Health Care Tax Credit as long as they employ fewer than the equivalent of 25 full-time workers and average annual wages do not...