Tax Filing & Deduction Updates for Pass-Through Entities in 2026 Do you operate your business as a partnership, an LLC treated as a partnership, or an S corporation? These are known as pass-through entities because they pass income, deductions, and credits directly to their owners. While they don’t pay federal income tax at the entity […]
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If your business claims deductions for expenses like meals, vehicle use, or a home office, be prepared for close scrutiny from the IRS. These types of deductions are among the most commonly audited, and even honest taxpayers can find themselves in hot water if documentation is lacking. A recent U.S. Tax Court case (T.C. Memo. […]
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