Tax Advisory & Planning

Home Office Deduction: Who Qualifies and How to Calculate It

Tax Advisory & PlanningJuly 2, 2026405Views 33Likes 0Comments

The Remote Work Myth Working from your laptop on the living room couch does not automatically create a tax deduction. For federal tax purposes, the home office deduction is generally for self-employed professionals, freelancers, and small business owners. Standard W-2 employees usually cannot claim it, even when they work remotely. Checkpoint 1: The Exclusive-Use Rule…

Business Meals Deduction: What’s Still Deductible After Tax Reform?

Tax Advisory & PlanningJune 23, 2026394Views 32Likes 0Comments

The Post-Reform Confusion Business meal rules have changed a lot over the last few years. Some meals are still deductible. Some are not. And relying on old rules is one of the easiest ways to create messy books or raise questions during an IRS review. The key is knowing the difference between a real business…

How to Avoid the Self-Employment Tax Trap as a Freelancer or Contractor

Tax Advisory & PlanningJune 15, 2026354Views 31Likes 0Comments

The 15.3% Shock Leaving a W-2 job can feel freeing. No boss. More control. Better income potential. Then tax season shows up. Many freelancers and contractors are shocked to learn they owe self-employment tax. This is a flat 15.3% tax for Social Security and Medicare, and it comes on top of regular income tax. At…

How an S-Corp Election Can Save You Thousands in Self-Employment Tax

Tax Advisory & PlanningJune 1, 2026377Views 31Likes 0Comments

The 15.3% Self-Employment Tax Wall If you run a standard sole proprietorship or single-member LLC, your business profit gets hit with self-employment tax. For many owners, the self employment tax rate 2026 is the wall they keep running into. That rate is generally 15.3%. It covers: 12.4% Social Security tax 2.9% Medicare tax And here…

Should You Accelerate Deductions Before Year-End? Here’s How to Decide

Tax Advisory & PlanningMay 21, 2026357Views 29Likes 0Comments

The December Spending Trap Every December, business owners hear the same advice: “Buy something before year-end so you can write it off.” That sounds smart until you run the math. If you spend $10,000 to save $2,500 in taxes, you did not “save” $10,000. You spent $10,000 and kept only $2,500 away from the IRS,…

Qualified Business Income (Section 199A) Deduction Explained Simply

Tax Advisory & PlanningMay 19, 2026360Views 26Likes 0Comments

The IRS's 20% Coupon So, what is the qualified business income deduction? In plain English, the Qualified Business Income deduction, also called the Section 199A deduction, allows eligible business owners to potentially deduct up to 20% of qualified business profit before calculating federal income tax. That is the Section 199A deduction explained simply: if you…

Home Office Deduction: Who Qualifies and How to Calculate It

Business Meals Deduction: What’s Still Deductible After Tax Reform?

How to Avoid the Self-Employment Tax Trap as a Freelancer or Contractor

How an S-Corp Election Can Save You Thousands in Self-Employment Tax

Should You Accelerate Deductions Before Year-End? Here’s How to Decide

Qualified Business Income (Section 199A) Deduction Explained Simply

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