If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses. The IRS has put together the following facts to help you determine which expenses may be ...

Form 8829 is used to claim the home office deduction by calculating the business-related portion of home expenses. Self-employed individuals and freelancers can deduct costs such as rent, utilities ...

But Congress may act to enable taxpayers to deduct expenses paid with PPP loan proceeds On April 30, 2020, the IRS released guidance disallowing deductions for otherwise deductible expenses if payment ...

For most taxpayers, interactions with the IRS beyond the annual obligation to report income and other financial information is something to be avoided at all costs. IRS agents work tirelessly to sift ...

What are expense receipts and how should I track them? Manually tracking expense receipts shouldn't feel like a second job, but for most finance teams, that's what it can turn into. According to the ...

Businesses that reasonably anticipate that loans under the Paycheck Protection Program will be forgiven should be aware that they cannot claim a deduction for the eligible expenses paid or incurred ...

The Internal Revenue Service issued a ruling allowing taxpayers to use a tax-advantaged flexible spending account to pay for the medical portion of an ancestry test from the genetic testing service ...