For one, the immense number of changes to our tax code since theTax Cuts & Jobs Act (TCJA)took effect in 2018 has made tax planning substantially more complex than it used to be. The amount of time it takes to do a “back of the envelope” or “paper napkin” calculation has triple...
The IRS has information and charts that show the average business deductions for businesses at certain income levels. If business expenses are above this average, a return may get flagged. Self-Employed Individuals. If you have a home office and significant business expenses, but not much ...