As a business owner, I’ve seen countless entrepreneurs try to push the boundaries of what counts as a legitimate tax deduction. The line between smart tax planning and outright fraud isn’t always ...

The state and local tax (SALT) deduction lets taxpayers write off certain state and local taxes from their federal taxable income. Under the One Big Beautiful Bill Act, signed into law by President ...

Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Legal fees as income? Why worry about deducting legal fees? Most ...

Not all expenses receive equal treatment under tax law. Deductible LLC expenses, also known as write-offs, are business-related costs that the IRS allows you to subtract from revenue, lowering your ...