2026 Attorney Regulation 
Buildium
DECEMBER 17, 2024
1, 2026 and is not available to employees. Under IRS regulations, any personal property you buy for your business that costs less than $200 is deductible as materials and supplies. If this deduction applies, you are effectively taxed on only 80% of business income. This deduction is scheduled to end on Jan.
Buildium
DECEMBER 30, 2024
1, 2026 (but it could be extended) and is not available to employees. Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business. You can qualify to deduct up to 20% of your net business income from your personal income tax return.
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