If you ever plow through the IRS tax laws the way we do, you’ll come across some mighty strange rules. EXAMPLE: Let’s say you participate in a skeet shoot for your favorite charity. What can you deduct for tax purposes? Interestingly, the deductions you get for participating in the charity skeet shoot beat both the regular business entertainment tax deduction and the … [Read more...]
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The right way to deduct your employee party
Want to throw a party for your employees? Go ahead and have a ball, but be sure you use the right deduction category! HINT: Don’t deduct your party as regular “business entertainment.” Instead, learn how the tax law gives you a 100% deduction for your employee party and other employee entertainment. My advice? Before you break out the champagne, read my new article titled … [Read more...]
How to keep your yacht deduction from sinking
If you own a yacht or a luxury boat, there’s something you should know before you shout “anchors away.” I’m talking about the IRS tax rules that govern luxury boat deductions. What are they? We’ve done research on the subject and put together an easy-to-understand article you won’t want to miss. For all the details, check out my new article that’s like a life preserver for … [Read more...]
Surviving an IRS “entertainment” audit
Worried about the IRS auditing your entertainment expenses? Don’t be. In our brand new article, we’ll explain how to document and pass the IRS audit tests for your deductible business entertainment. And do so with flying colors. Where do we get our information about what the IRS looks for in an audit? From the IRS’s own audit guide! Don’t miss what we’ve got waiting for you … [Read more...]
How to audit-proof your self-employed tax records
If you are audited by the IRS, will your deductions stand up to close scrutiny? If you take your case to court, will you come out a winner or wind up owing even more money? You’ll find answers to these important questions in our must-read new article titled Tax Audit Tips for Travel, Entertainment, and Education. Don’t miss it! Three ways our fact-filled article can help … [Read more...]