Small businesses can claim the Qualified Business Income (QBI) deduction in 2025 to cut taxes by up to 20%. Learn what income qualifies, key limits, and strategies to maximize savings.

Are you a self-employed business owner or freelancer using a home office? Understanding the complex IRS rules for the home office deduction is crucial for maximizing your tax savings. This guide breaks down who qualifies for this valuable tax deduction, including the specific criteria for self-employed individuals and the unique rules for W-2 owner-employees. Learn what the IRS looks for, from the "exclusive use" test to proper record-keeping, and discover which method—the simplified option or the regular method—is best for you. Don't leave money on the table; get the expert guidance you need to confidently claim your home office tax benefits.

Discover how to treat horse racing as a business for tax purposes. Learn IRS guidelines, profit tests, deductible expenses, and strategies to protect your racing operation and maximize tax benefits.