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A little-known tax benefit that all small business owners should know about

A little-known tax benefit that all small business owners should know about

The Internal Revenue Code (IRC) allows businesses to deduct all ordinary and necessary expenses incurred in connection with operating their trade or business. This includes the costs for certain materials, supplies, repairs, and maintenance.

Retail worker taking credit card from customer

Businesses may deduct 100% of the costs of food and beverages purchased from restaurants in 2022

Businesses may deduct 100% of the costs of food and beverages purchased from restaurants in 2022

As part of the Consolidated Appropriations Act signed into law on December 27, 2020, businesses may deduct 100% of the costs of food and beverages purchased from a restaurant in 2022. This includes the full cost of food and beverages, as well as any delivery fees, tips, and sales tax.

Businesses meals are 100% deductible in 2022

How to obtain relief if you are a victim of tax preparer fraud

How to obtain relief if you are a victim of tax preparer fraud

This article focuses specifically on situations where a tax return preparer either altered a customer's tax return without their knowledge/consent or misdirected all or a portion of the customer's tax refund. A “return preparer” is any individual who either:

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