6 Common Tax Deductions for Nonprofits

Revenue generated by 501(c)(3) organizations is generally exempt from federal income tax. But in some cases, your not-for-profit may incur unrelated business income tax (UBIT) on revenue. The good news is your annual tax return Read More


Kirsch CPA Group

Jun 08, 2022

Opening the Door to Home Office Deductions

Are you a business owner working from home as a sole proprietor or an entrepreneur with a home-based side gig? As long as you meet certain requirements, you may qualify for sizeable home office deductions, Read More


Kirsch CPA Group

Jun 08, 2022

How to Maximize the QBI Deduction Amid the Pandemic

Since the qualified business income (QBI) deduction first become available in 2018, things have changed dramatically, mainly due to the various effects of the COVID-19 pandemic. Possible tax rate increases and inflation have also entered Read More


Kirsch CPA Group

Feb 24, 2022

7 Valuable Deductions for Self-Employed Individuals

If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you're looking to fulfill a lifelong dream of running a business for Read More


Kirsch CPA Group

Jun 09, 2021

FAQs about Home Office Deductions

In the past, home office deductions were available to a wide range of taxpayers, including certain employees who worked from home. But the Tax Cuts and Jobs Act (TCJA) has effectively eliminated home office deductions Read More


Kirsch CPA Group

Jan 01, 2020