Lisa Marie Brugman, EAAre credit card fees tax-deductible? It depends on how the card is used. Personal credit card fees aren’t deductible, but business-related fees may qualify—if they’re tied to ordinary and necessary business expenses. This guide breaks down what counts, what doesn’t, and how to protect your deductions.
Lisa Marie Brugman, EACan you deduct unpaid invoices? It depends on your accounting method. Cash-basis businesses generally can’t deduct income they never received, while accrual-based businesses may qualify for a bad debt deduction—if the debt is truly worthless and properly documented. This guide explains the difference so you can avoid mistakes and stay compliant.
Lisa Marie Brugman, EAHiring your spouse as an S-Corp owner can still unlock meaningful tax benefits in 2026—but only if it’s structured correctly. This guide breaks down what still works, which credits remain available, and the compliance rules that matter most so you can avoid costly mistakes and IRS scrutiny.
Lisa Marie Brugman, EAHiring your spouse as an employee in your sole proprietorship or partnership can be a powerful tax-saving strategy, but only if structured correctly. Instead of traditional wages, compensate with tax-free benefits like health insurance to maximize deductions while avoiding payroll taxes. A medical reimbursement arrangement (105-HRA or ICHRA) allows you to cover medical costs tax-free. Additional fringe benefits like education expenses or life insurance can further enhance savings. However, your spouse must be a bona fide employee, with documented work duties and fair compensation. Done right, this strategy can minimize taxes and boost business efficiency.