If you get your Employee Retention Credit (ERC) refund now, it’s likely too late to amend your 2020 and 2021 tax returns to reduce those wage deductions for the ERC refund. If you can’t amend, you are looking at a double benefit. The IRS says no double benefit, but that may not be true.

When planning your Section 199A tax deduction, avoid difficult calculations and save time by using the updated 2026 Section 199A Deduction Calculator. In this article, you’ll find the rules you need to know to find your QBI, Section 199A wages, and Section 199A property that can figure into your Section 199A deduction possibilities.

Here’s the 2026 update on the health insurance deduction for S corporation owners: the three-step W-2 method, the box 5 “earned income” trap, the Section 318 family attribution surprise, the QSEHRA/ICHRA options for rank-and-file employees, and the expired enhanced premium tax credit.

Have you ruled out taking the home-office deduction because you believe your home is too small? You should think again. Don’t skip this article. A workspace no larger than a single file cabinet can be enough to qualify.

How does the tax law treat the classic or antique car when you use it for business? Can you deduct it just as you would any car you use in business? Learn how some tax law changes enabled the classic or antique car as a business asset, much to the IRS’s chagrin, and why that can work to your advantage.

When you finally sell a rental property, the tax law hands you a gift: the passive losses it denied you in earlier years—technically, your “suspended” passive losses—are released for deduction. But hidden traps can delay or destroy those deductions, and as of 2017 a second limit now stands between you and the full write-off. Learn the right way to sell, gift, or die. The dying part is so you can pass on rental property to your heirs without losing the suspended losses.

Renting furniture to your corporation is supposed to be the savvy way to get money out of the corporation. We ran the math on a $100,000 purchase and the “savvy” move turns out to be a myth—here’s the proof.

Missing an IRA required minimum distribution (RMD) can trigger steep IRS penalties—but many taxpayers don’t realize those penalties can often be reduced or even eliminated. Learn the key deadlines, correction rules, and waiver strategies that can help you avoid costly mistakes and keep more of your retirement savings.

Small businesses may have more flexibility with inventory deductions than many owners realize. This article explains when inventory costs can be deducted sooner—and the tax traps that can cause a business to lose this valuable treatment.