Drake Software blog for tax pros, covering tax, IRS news, and more

Home Office Deduction Can Help Small Businesses

Home Office Deduction Can Help Small Businesses

It’s no secret that running a successful small business isn’t easy. The Internal Revenue Service reminds small-business owners that they may qualify for a home office deduction that can help their bottom line and give them one less thing to worry about.…

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Taxes and Historic Buildings

Taxes and Historic Buildings

May is National Historic Preservation Month, and plenty of organizations around the U.S. are promoting historic buildings and other important heritage sites around the country.…

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IRS Fixes Error in Schedule D Worksheet

IRS Fixes Error in Schedule D Worksheet

The Internal Revenue Service says it has corrected a calculation error in its 2018 Schedule D Tax Worksheet. The worksheet should have taxed capital gains at a lesser rate, as mandated by the new tax reform package, the Tax Cuts and Jobs Act, passed in 2017.…

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Sara Explains GruntWorx - E27

Sara Explains GruntWorx - E27

Filing season may be in the rear view, but tax professionals still have to deal with extension returns and finish preparing for next season. Some may already have started looking at CPE opportunities…

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Hurricane Preparedness Week Advice from the IRS

Hurricane Preparedness Week Advice from the IRS

Last week may have been National Small Business Week, but the IRS also reminded taxpayers that it was Hurricane Preparedness Week. To help taxpayers who might get caught in a natural disaster, the agency issued a series of tips to help them develop an emergency plan and preserve important documents.…

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