#tax-deductions
Maximize tax deductions and reduce your tax liability legally
A field guide to coordinating the Section 162(l) self-employed health insurance deduction with the Premium Tax Credit's circular calculation, HSA contributions, and the Augusta Rule (Section 280A(g)) — including Form 7206 mechanics, S-corp W-2 Box 1 reporting under IRS Notice 2008-1, Medicare Part B and D deductibility, and 2026 contribution limits.
Internal Revenue Code Section 280A(g) lets a business owner rent a personal residence to their own S-corporation for up to 14 days a year and exclude every dollar from personal gross income while the business deducts the rent under Section 162. The Sinopoli case shows what survives an audit and what does not.
A working captain's guide to charter boat bookkeeping in the U.S.—how to track OUPV/six-pack license renewals, deferred deposits under ASC 606, mate tip pools, fuel surcharges, Section 179 vessel depreciation, and HMS permit compliance so a hard season translates into a profitable, defensible business.
A 2026 bookkeeping guide for personal and private chefs covering ASC 606 principal-vs-agent grocery treatment, the 72.5¢ standard mileage rate, Section 179 equipment, cottage food law constraints, and quarterly estimated tax safe harbors for Schedule C filers.
OBBBA made the Section 199A pass-through deduction permanent and widened the 2026 phase-in to $201,750 single / $403,500 MFJ. Here is how the 20% QBI deduction, the W-2 wages and UBIA caps, the SSTB phase-out, the new $400 minimum, and Form 8995-A aggregation actually work for S-corps, LLCs, and partnerships.
A working playbook for mobile mechanic bookkeeping — tiered labor rates, a parts markup matrix targeting 58% gross margin, actual-expense vs 72.5-cent standard mileage, Section 179 on scan tools and upfitted cargo vans, comeback warranty reserves, and quarterly Schedule C obligations.
A cash balance plan lets a 55-year-old business owner deduct roughly $230,000 a year in retirement contributions — far above the 401(k) ceiling — because a defined benefit pension caps the retirement benefit, not the annual deposit, so limits scale with age rather than income.
A practical bookkeeping playbook for direct-to-consumer farms — chart of accounts, CSA deferred revenue across a 20-week season, SNAP/EBT and Double Up Food Bucks token reconciliation, per-market cash workflows, and Schedule F line 25 Section 175 conservation expense treatment.
Starting in 2026, OBBBA imposes a 0.5% AGI floor on itemized charitable contributions and caps top-bracket deductions at 35 cents per dollar. Bunching gifts, funding a donor-advised fund, and making qualified charitable distributions from an IRA recover most of the lost benefit for typical itemizing donors.
Mobile notaries and loan signing agents can exclude statutory notarial fees from self-employment tax under IRC Section 1402(c)(1), but only if their books cleanly split per-act notarial revenue from taxable signing, travel, and print fees. A chart-of-accounts and Schedule C/SE walk-through that can save a moderately busy LSA $800 to $2,000 a year.
Starting in 2026, taxpayers who take the standard deduction can deduct up to $1,000 ($2,000 for joint filers) of cash gifts to qualified public charities under new IRC Section 170(p) — cash only, no donor-advised funds, no carryforward, and the same $250 documentation rules as itemizers.
The One Big Beautiful Bill Act made 100% bonus depreciation under Section 168(k) permanent for qualified property placed in service after January 19, 2025. This guide explains how small businesses coordinate Section 179, qualified improvement property, and the new Section 168(n) manufacturing deduction — and the acquisition-date rules that decide eligibility.
