Credits and deductions for businesses
Work Opportunity Tax Credit
Employers who hire individuals from certain targeted groups who have faced barriers to employment may qualify for the Work Opportunity Tax Credit (WOTC).
Fuel Tax Credit
Businesses get a refundable credit for fuel used in a specific work-related activity with the Fuel Tax Credit (FTC).
Employer-provided childcare credit
Businesses that provide childcare for their employees are eligible for a tax credit.
Opportunity Zones
Companies that invest in Opportunity Zones can use this economic development tool to support investment and growth in U.S. distressed areas and defer tax on eligible gains
Advanced energy project credit
Manufacturers and other entities that invest in qualifying advanced energy projects may apply for a tax credit through the Department of Energy.
FICA tip credit
Food and beverage businesses with tipped employees may qualify to claim a credit for their Social Security and Medicare taxes on certain employees’ tips.
Deduct expenses
Deductions lower your income. This can lower your tax payment or increase your refund. You need documents to show expenses or losses you want to deduct.
Home office deduction
If you use part of your home for business, you may be able to deduct certain expenses.
Energy efficient commercial buildings deduction
Building owners who increase energy efficiency in certain building systems by at least 25% may be able to claim a tax deduction.
Standard mileage rates
Find standard mileage rates for deducting vehicle expenses for business use and charitable, medical or military moving purposes.
Business interest deduction
Get answers to questions about limits on the business interest expense deduction.