To qualify for deductibility, an expense must meet all four statutory requisites under the Tax Code: Ordinary and necessary – common and appropriate for your business or profession. Paid or incurred ...
On March 17, 2023, the Internal Revenue Service (IRS) issued new frequently asked questions (FAQs) addressing whether certain costs related to nutrition, wellness, and general health are medical ...
Tax season is arriving with more than the usual forms and deadlines. The Internal Revenue Service is rolling out structural ...