Lana Pol, president of Geetings, Inc., a trucking and warehousing company in Iowa, detailed what the 2017 Tax Cuts and Jobs Act (TCJA) have meant for her business.

Tip 5: Know what you can deduct. The biggest benefit of business income is that you can deduct costs that are ordinary and necessary to generate that income. For example, while a W2 employee might ...

H&R Block’s small business tax software is downloadable desktop software (only available for Windows) and includes five free federal filings and one free state filing (although there is a $19.99 ...

Business Profits Tax: Effective Jan. 1, 2024, businesses can deduct interest expenses when calculating taxes, without regard to the IRC §13 (j) limitation, which sets restrictions on the deduction of ...

Not all states impose all of the most common business taxes. Taxes in a few northeast U.S. states are higher than others. Eight states have no individual income tax as of tax year 2025. Alaska ...

Democrats want to resurrect an expanded child tax credit, which cut childhood poverty, while Republicans are seeking tax breaks for businesses, including R&D and small-business expensing.