Proper documentation and adherence to IRS guidelines are crucial for claiming deductions. There are limitations on deductible interest, including caps on mortgage debt. Loans taken before December ...

Traveling to the nearest deli for a sandwich does not make for a deductible business meal. To take a tax write-off for a meal, it has to be business-related entertainment -- taking out a client ...

Bonus depreciation is also known as the additional first-year depreciation deduction. It is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of ...

Mistakes happen, but if it's a mistake in payroll, it can be a serious problem. Overpay an employee and your business loses money. Underpay and your employee may file suit if you don't square ...