Is Your Home Office Tax-Deductible?

Question. If you have an office outside your personal home—say, downtown—can you have a tax-deductible office inside your home for the same trade or business? Answer. Yes. Q. Who says …

IRS Issues Standard Mileage Rates for 2021

From the IRS: The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or …