Can you deduct the costs of a spouse on a business trip? If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips. The rules for deducting a spouse’s travel costs are very...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
business meals
Domestic Travel can be a Business Expense
TAX-SMART DOMESTIC TRAVEL: COMBINING BUSINESS WITH PLEASURE Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few...
Tax Deductible Business Expenses
WHAT TYPE OF EXPENSES CAN’T BE WRITTEN OFF BY YOUR BUSINESS? If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct...
New IRS Rules on Business Meal Deductions
Business meals. One of the provisions of the Tax Cuts and Jobs Act (TCJA) disallows a deduction for any item with respect to an activity that is of a type generally considered to constitute entertainment, amusement, or recreation. However, the TCJA did not address the...
Reimbursing Employees for Business Expenses
BE SURE YOUR EMPLOYEE TRAVEL EXPENSE REIMBURSEMENTS WILL PASS MUSTER WITH THE IRS Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start,...
Deducting Business Travel with Vacation
CAN YOU DEDUCT BUSINESS TRAVEL WHEN IT’S COMBINED WITH A VACATION? At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound...
New Tax Act changes affecting Small Business
A REVIEW OF SIGNIFICANT TCJA PROVISIONS AFFECTING SMALL BUSINESSES Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA)...
Meals, entertainment and transportation may cost businesses more under the TCJA
MEALS, ENTERTAINMENT AND TRANSPORTATION MAY COST BUSINESSES MORE UNDER THE TCJA Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business...
