Posts Tagged ‘deduction’
Do You Know the Difference Between an Itemized Deduction and a Standard Deduction?
Do you know the difference between an itemized deduction and a standard deduction? Deductions reduce the amount of taxes you owe when filing a federal tax return. That said, there are two types of deductions: The standard deduction, based on an IRS schedule, or the itemized deduction. Knowing which type of deduction is best for…
Read MoreSmall Business Owner: Learn if You Can Claim this Deduction
In a gig economy, there is an important deduction for small business entrepreneurs: Your home office deduction. In general, if you work out of the home, you may use this deduction… When the following applies: As your main place of business. As a place of business where you meet patients, clients or customers in the…
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