Deduct It! shows you how to maximize your business deductionsquickly, easily, and legally. Whether your business is just starting or well established, this book is indispensable to your financial success. It covers deductions for:
start-up and operating expenses
travel and meals
home offices
medical expenses
equipment and inventory
and more.
Learn the rules for deducting: net operating losses, state income taxes with a pass-through entity, and cryptocurrency given to a charity. This book also has updated information on Section 179 expensing and everything you need to know about the 20% pass-through deduction. Easy to read and full of real-world examples, Deduct It! will pay for itself many times overespecially if the newly beefed-up IRS comes calling.
This edition has a new section on tax credits and deductions for electric vehicles.