Learn when a partner may deduct business expenses paid personally, why the partnership agreement matters, and what records the IRS expects.

Supporting a charity can be good for your community and your business. But writing the check from the company account does not automatically create a business deduction. Learn when a charitable payment may qualify as advertising or promotion, and what documentation you need before claiming it.

Business owners may be able to deduct reasonable compensation paid to a child for legitimate work. Before making the payment, consider worker classification, payroll and reporting requirements, documentation, entity type, and the opportunity to fund an IRA.

The rules for business meals changed again in 2026. Client meals may still qualify for a 50 percent deduction, but many employer provided meals and office snacks are no longer deductible.

The Augusta Rule can create a valuable tax result when an eligible business rents an owner's home for a legitimate purpose. The opportunity is real, but so are the documentation requirements.

After years or decades in practice ownership, it is understandable why many dentists begin to feel there is “nothing new under the sun.” But in reality, the business side of dentistry continues to evolve constantly.

When a large commercial building expense hits your desk, one of the first tax questions is whether the cost can be deducted immediately or whether it must be capitalized and depreciated over 39 years.

If your household MAGI exceeds 400 percent of the federal poverty level--even slightly--you lose eligibility entirely and must repay 100 percent of the advance credit you received during the year.

Under the updated rules, qualifying small businesses may receive a tax credit equal to 50 percent of eligible childcare expenses, with a maximum annual credit of up to $600,000.

If you are a sole proprietor and considering converting a business vehicle to personal use, it’s important to understand the tax consequences before making the switch.

Selling a dental practice is often one of the largest financial events of a dentist’s career. Unfortunately, many practice owners focus heavily on the sale price while underestimating the tax consequences that follow.

Many charitably minded individual retirement account (IRA) owners use qualified charitable distributions (QCDs) to satisfy required minimum distributions while avoiding income tax. One simple mistake, however, can turn an otherwise tax-free QCD into fully taxable income.

In simple terms, separation of duties means no single employee should control an entire financial process from beginning to end.

A recent Tax Court case is a good reminder that charitable deductions can be denied entirely because of poor documentation, even when the donations themselves were legitimate.

At T. S. Allen & Associates, we help dental practice owners evaluate major equipment purchases in the context of the entire business, not just the tax deduction.

Beginning in 2026, small businesses with average annual gross receipts under $32 million may claim a 50 percent credit on qualified childcare expenses, up to a maximum annual credit of $600,000.

We sometimes see business owners incorrectly increase their W-2 compensation solely to create additional withholding, even when there is no reasonable compensation requirement to do so.

Family relationships and overlapping ownership can quietly sabotage well-intentioned tax planning. Internal Revenue Code Section 267 often causes the damage.

Dishonest tax preparers exist, and their misconduct can haunt clients for decades.

Many married couples form an LLC to own rental property to obtain liability protection. After they create the LLC, they often ask an important tax question: Does the LLC force them to file a partnership return?