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For income tax purposes, a business loss generally occurs when a business’s deductions for the year exceed its revenue. Any business, whether new or established,

Generally, except for home mortgage interest, personal interest expense isn’t deductible for federal income tax purposes. With the passage of the legislation commonly known as

As this year comes to a close, business owners seeking to reduce their taxes for 2025 have a variety of opportunities. Here’s a look at

Even during the last two months of the year, you can take steps to reduce your 2025 tax liability. Here are five practical strategies to

The holiday season is here once again, and for some workplaces, that means holiday parties. Although the rules for deducting business entertainment expenses changed several

Charities obviously benefit when you donate to them. But you can also benefit by securing a tax deduction on your 2025 income tax return if