Disaster and Taxes: Understanding Casualty Loss Marshall, North Carolina, a town of about 800 people, was more or less wiped off the map on Sept. 27, 2024, by Hurricane Helene. Residents said they had never seen the river rise...
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Using the Section 179 Deduction Section 179 of the U.S. tax code offers a tax incentive to small and medium-sized businesses by allowing them to take a full deduction on tangible assets in the year items were purchased and...
Intro to Business Deductions To be deductible, a business expense must be both ordinary — common and accepted in your industry — and necessary, helpful and appropriate for your trade or business. Generally, you cannot deduct personal, living or...