Business Deductions

Learn about the best tax deductions for professionals who own their own businesses.

Under the Tax Cuts and Jobs Act, pass-through business entity owners can potentially deduct 20% of their business income.

Learn about the 20% pass-through tax deduction and IRS safe harbor for landlords trying to establish that their rental activity is a business activity.

Many states have adopted an optional pass-through entity (PTE) tax that effectively enables some business owners to deduct state income tax on their business income without limit.

Bonus depreciation (a valuable deduction for business owners) is available with a gradual phase-out through 2026.

Understand how to reduce your business taxes by deducting your business expenses.

Don't miss out on this important business expense deduction with more options under the Tax Cuts and Jobs Act.

Running a business from home can help you lower your tax bill.

Find out what tax deductions you can get for renting a room in your home.

In a rare move to simplify life for taxpayers, the IRS created a simplified optional home office deduction.