Small Biz Taxes and Your Dog
Think your dog is a tax write-off? For most pet owners, the IRS says no. This post covers the general rule on pet expenses, plus the legitimate exceptions: guard dogs used for business security, service animals with documented medical necessity, and working animals that are genuinely part of a business operation. If you have been wondering where the line is, this post draws it clearly.
Fine Dining for the Sell: The IRS Gets Their Just Desserts
Client dinners can build relationships and close deals, but how much can you actually deduct? This post breaks down the 50% rule for business meals, what documentation the IRS expects, and clears up the common misconception about 100% deductibility. Updated for 2026 with the new fishing and maritime crew meal exception under the One Big Beautiful Bill.
Sailing the Open Seas: Boats and Taxes
Can a boat be a tax write-off? It depends entirely on how you use it. This post covers the three scenarios where a boat can generate legitimate deductions: business use, charter operations, and the second home mortgage interest deduction. We also cover the property tax angle and what the IRS actually looks for when luxury assets are involved. Updated for 2026.
Small Business Taxes FAQ: 10 Common Questions Answered
Managing taxes as a small business owner does not have to be overwhelming. This post answers the 10 most common small business tax questions, covering estimated quarterly payments, self-employment tax, home office deductions, startup costs, mileage, LLC vs. S-Corp differences, business meals, EINs, bad debts, and recordkeeping rules. Updated for 2026 with current IRS rates and direct links to official IRS resources.
No, You Can’t Deduct All Your Overtime …
… But You Can Deduct This One Part 2025 brought a brand-new tax break that everyone is confused about: the overtimededuction on Schedule 1-A. And honestly? The confusion makes sense. Payrollsystems updated overnight, Box 14 codes changed, and suddenly everyone thinks theirentire overtime check is deductible. Let’s clear that up. What the IRS allows You […]
Can I write off closing costs on my new home?
Buying a new home is exciting, but it also comes with a long list of expenses – one of the biggest being closing costs. If you’re wondering whether you can deduct these costs on your tax return, the answer is: it depends. Let’s break it down. What are closing costs? Closing costs are fees and […]
Are GLP-1 Medications tax deductible?
GLP-1 medications are typically used to treat conditions like type-2 diabetes and obesity. According to IRS guidelines, the deductibility of these medications as medical expenses on your tax return depends on their prescribed use: It’s important to maintain thorough documentation, including the physician’s diagnosis and prescription, to support the medical necessity of the medication if […]
Why is my tax refund smaller than before?
You’ve noticed your tax refund looking bleak lately? Unfortunately, your eyes are not deceiving you. Your tax refund is a direct reflection of how much or how little your employer is withholding your taxes on each pay period. If they take too much out, you may receive a refund. Too little? You will have to […]
Is TikTok on the chopping block?
What the next 90 days could mean for creators and businesses January 19, 2025, was a sad day for many creators using the popular platform, TikTok. Many were posting farewells to their followers. Some reported to have completely abandoned the platform due to the uncertainty surrounding the law passed by Congress. Two hours before midnight, […]