How Much Home Office Deduction Is Allowable? For millions of self-employed individuals, freelancers, consultants, remote business owners, and independent contractors, the home office deduction can provide meaningful tax savings. Yet one of the most common questions taxpayers ask is: How much…
Unlike corporations which are treated as separate tax entities, the IRS and the Tax Code treat LLCs as “pass-through” entities. Thus, an LLC or “Limited Liability Company” is a business structure that combines the pass-through taxation of a partnership or…
In a case of first impression, the Eleventh Circuit Court of Appeals held that payments from a Mary Kay retirement program to one of its retired salespersons were earnings subject to self-employment tax. This holding was based upon the fact…