An often-overlooked area to optimize financial strategies is the business use of a vehicle, which can offer significant tax advantages if managed correctly.
What constitutes qualifying business use? Generally, the use of a vehicle for business-related activities, such as transportation to client meetings, travel to business-related events, and delivery of goods or services, can be considered for tax purposes.
Did you know if you earn rental income from a property you own and rent out, you might be eligible for certain tax deductions? The deductions must be for necessary and ordinary expenses to own and maintain the property.
Here are 5 of the most common rental tax deductions you might be able to take.