#tax-deductions
Maximize tax deductions and reduce your tax liability legally
Kick pays streamers 95% of subscriptions and KICKs through Stripe, and the OBBBA raised the 1099-NEC reporting threshold from $600 to $2,000 for payments made on or after January 1, 2026 — but streaming income is taxable from dollar one, and $400 of net profit triggers self-employment tax whether or not a form arrives.
An S corporation K-1 loss is deductible only up to your stock basis plus debt basis, and a personal guarantee of a corporate bank loan creates zero debt basis. This guide covers the two basis buckets, the $25,000 open-account-debt threshold, the repayment gain trap, and the documentation that keeps a shareholder advance from being reclassified as equity.
A mobile welder quoting $90 an hour often spends $20–$35 of every arc hour on shielding gas, wire, and abrasives alone. This guide shows how to book consumables as direct job costs, build a true cost per arc hour, price the non-arc hours around it, and keep the rig, mileage, and Section 179 records that hold up at tax time.
Points on rental and business property are prepaid interest that must be amortized per scheduled payment, not per year — $4,800 on a 20-year loan is $20 a payment, so a 3-payment first year deducts $60. Refinancing with the same lender blocks the write-off of leftover points and rolls them into the new loan's term.
Bringing staff back on-site changes payroll tax, benefits, and deductions at once. For 2026 the Section 132(f) exclusions are $340/month each for transit/vanpool and qualified parking, saving employers about 7.65% of every pre-tax dollar; W-2 employees can no longer deduct home-office costs, so route equipment through an accountable plan instead.
For tax year 2026 the student loan interest deduction is capped at $2,500, claimed above the line on Schedule 1, and phases out between $85,000 and $100,000 of MAGI for single filers and $175,000 to $205,000 for joint filers. This guide covers the five eligibility tests, what Form 1098-E does and does not report, and why self-employed borrowers cannot move the interest to Schedule C.
Subletting unused office space leaves you fully liable on the master lease while making you a landlord to your subtenant — why written landlord consent comes first, how to book sublease income separately from rent expense, and how advance rent, security deposits, and CAM pass-throughs are taxed.
AI data-labeling and RLHF gig income arrives with nothing withheld, so annotators owe 15.3 percent self-employment tax plus income tax on every payout and must pay quarterly estimates by the 2026 deadlines. This guide covers the 1099-NEC and 1099-K thresholds, the 90/100/110 percent safe-harbor rules, Schedule C deductions most annotators skip, and a 20-minute-a-month bookkeeping system for multi-platform payouts.
Self-employed owners can deduct the business-use share of a cell phone and home internet — not 100% — and this guide shows three defensible ways to set that percentage, why the first home landline is never deductible, and where the amounts land on Schedule C.
Thailand's Cabinet extended two digital-tax incentives through 31 December 2027 — a 200% deduction on e-Tax Invoice, e-Receipt and e-Withholding Tax spending, worth 40,000 baht of tax on 100,000 baht spent at the 20% corporate rate, and a flat 1% withholding rate on payments routed electronically, down from 2–5%. Here is what qualifies, what to segregate in your books, and why the implementing Royal Decree still needs checking before you claim.
The Cohan rule lets a court estimate an ordinary business deduction when you can prove the money was spent but not the exact amount — and Section 274(d) forbids that estimate entirely for travel, entertainment, gifts, and vehicles. Here is what reconstruction evidence actually persuades an examiner, why bank statements alone usually fail, and a six-step playbook for rebuilding a missing-receipt file.
The IRS finalized the No Tax on Tips regulations in April 2026 with a closed list of 71 qualifying occupations, a new W-2 Box 14b for up to two three-digit occupation codes, Box 12 code TP for qualified tips, and a voluntariness test that disqualifies automatic gratuities and POS flows with no zero option. Here is what tipped employers must change in payroll, point-of-sale and bookkeeping before 2026 forms go out.
