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Small Business Tax Strategy: Heavy Vehicle Plus a Home Office

Small Business Tax

Every small business owner wants lower taxes. For those who drive a lot for work, buying a ‘heavy’ vehicle may open you up to a deduction under the new tax law.

Small business owners are always looking for easy ways to lower their taxes. Here’s a simple, but effective, tax planning technique that’s available under the Tax Cuts and Jobs Act (TCJA) for 2018 through 2022. To take advantage, you need to purchase a “heavy” vehicle, work from a qualifying home office and keep detailed business expense records. Read more