Deductions

Why Do I Have to Pay Income Taxes?

Why Do I Have to Pay Income Taxes?

By Abacus CPAs|2022-03-04T14:13:28-06:00December 30th, 2020|Better Guidance|

Why do I have to pay taxes? Such a small, interesting question that opens the door for a barrage of follow-up. What are taxes? How are they used? Do we need those things? Are there better ways to pay for them? If you know the answers to these questions, then you might have a bright future [...]

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Business Expenses that Can’t Be Written off

Business Expenses that Can’t Be Written off

By Abacus CPAs|2022-10-20T15:56:47-05:00May 8th, 2019|Better Guidance|

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business expenses and deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses.Some expenses are detailed in the tax code, but the general rule is contained in [...]

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