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Tax Information
More Articles from Tax Information: Conservatives are asking Trump for another big tax cut The Washington Post Trump Takes Reins on U.S. Economy With Policy Bill and Tariffs Renewal The New York Times What to know -- and what isn't known yet -- about US tax deductions for tips and overtime pay ABC News - Breaking News, Latest News and Videos A tale of two Floridas: Real estate industry torn over DeSantis' push to eliminate property taxes Fox Business Department of Taxation and Finance dos.ny.gov Ohio House lawmakers launch bid to override three of Gov. Mike DeWine's property tax vetoes Ohio Capital Journal New poll finds dissatisfaction with NJ’s handling of affordability, taxes New Jersey Monitor How small provision added to Donald Trump’s ‘Big Beautiful Bill’ affects taxes for sports bettors - The Athletic The New York Times Gamblers will pay more taxes in 2026 and beyond when Trump's 'big, beautiful bill' hits Detroit Free Press TOPLINES: Child Care in the 2025 Tax Reconciliation Package First Five Years Fund New Jerseyans Give State a Thumbs Down on Taxes, Affordability and Transit New Jersey Business & Industry Association State and Local Sales Tax Rates, Midyear 2025 Tax Foundation Hotel, tourism industries watching for potential lodging-tax increases The Sum and Substance How will no tax on overtime work? Here’s what Trump’s BBB means for your paycheck, taxes Bergen Record Tax Bill’s Information Reporting Changes Will Increase Deficit and Make it Harder for Honest Taxpayers to Comply with Tax Laws taxlawcenter.org Ohio man who bought wildebeest with public funds didn't pay township taxes, auditors say The Columbus Dispatch Cortez Masto Blasts Republicans for Refusing to Fix the Provision in Their Tax Bill that Limits the Wagering Loss Deduction Senator Catherine Cortez Masto (.gov) Lansing solar developers say they face financial uncertainty, receive local tax break The Ithaca Voice Backers of EPIC Option seeking Constitutional Amendment abolishing property, income, inheritance taxes Rural Radio Network It’s Official—No Tax on Tips, No Tax on Overtime Through 2028 The National Law Review The Tax Blotter – OBBBA – July 2025 CPA Practice Advisor Indiana assessed value grows 12% as property tax changes take effect Indiana Capital Chronicle Governor Mike DeWine forms Property Tax Reform Working Group WCPO 9 Cincinnati Statewide cannabis tax hike hits SLO dispensaries as legal market struggles San Luis Obispo Tribune Who’s really getting a tax break in Maryland? The Baltimore Banner City launches online payment portal for property taxes localmemphis.com Lawmakers Try to Reverse Tax Increase on Gamblers The Wall Street Journal Eagleton poll: New Jerseyans dissatisfied with state’s handling of taxes, affordability, transit ROI-NJ Children's Trust won't back down on seeking tax exemption from county Pensacola News Journal Higher property taxes or better services? Difficult decision ahead of UG commission on Thursday KSHB 41 Kansas City City launches online payment portal for property taxes localmemphis.com Texas’ special session on floods, taxes, THC, redistricting could also spend time targeting transgender life KXAN Austin Mississippi tax revenue slumps, but state still has money in the bank thanks to feds News From The States The group pushing end to property taxes in Ohio says it's disappointed in the state budget, including an income tax cut WOUB Public Media - Trump Promised ‘No Tax on Tips.’ Then Came the Fine Print. - WSJ The Wall Street Journal Andy Beshear takes jab at federal government as he announces Kentucky property tax cuts - whas11.com Collier to ask voters for 1% tourist tax hike to finish sports complex, fund other needs Gulfshore Business EDITORIAL: Tourism, Taxes, and Turbulence, Part Four Pagosa Daily Post Here’s how President Trump’s tax cuts for the ultra-rich will hurt YOU Governor of California (.gov) Netflix and bill? Colorado Court of Appeals ruling says streaming service subject to sales tax Colorado Public Radio Trump bill raises taxes on gamblers. Now Nevada Rep. Amodei wants that part repealed Reno Gazette Journal Commissioners approve health dept. levy Sandusky Register Right-Wing State Tax ‘Revolution’ Rolls On The American Prospect With no public debate, Louisiana enacts sales tax break on luxury boats Louisiana Illuminator One Big Beautiful Bill Act: Key Tax Impacts for Businesses Vinson & Elkins LLP Letter: Contrary to official claims, Trump’s mega bill doesn’t eliminate taxes on Social Security The Salt Lake Tribune The One Big Beautiful Bill Act Signed into Law: Tax Implications at a Glance The National Law Review How big is the ‘no-state-tax’ advantage for the Florida Panthers? The New York Times Back-to-school sales tax holiday in Missouri will save you money. What to know Springfield News-Leader Louisiana enacts a new sales tax break for luxury boats Baton Rouge Business Report One Big Beautiful Bill Act Introduces Significant Domestic and International Tax Changes | Insights Mayer Brown Group seeks to block Colorado taxes on tips, overtime pay Kiowa County Press |
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As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. 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