I always enjoy hearing from subscribers to my Tax Reduction Letter. I particularly appreciate it when readers challenge the advice I provide. Why? Because I’m always prepared to back up my money-saving strategies with IRS tax-code citations, tax-court decisions, and more. My readers deserve to get advice they can rely on and that’s exactly what I provide month in, month … [Read more...]
Entertainment
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Audit-proof your vehicle and entertainment deductions
A letter arrives in your mail box. It’s from the IRS. It seems they want to go over your vehicle and entertainment deductions. What’s that? You can’t back up all your deductions with a detailed log and an organized file of receipts? Well then, welcome to a world of pain. If you want to avoid getting crushed by an IRS audit, now is the time to act! What’s the first step … [Read more...]
How to deduct your business motor home
Do you use a motor home for business? Are you thinking of getting a motor home for business use? Then you should know that some recent developments are working in your favor. If you want to learn the best way to deduct business use of your motor home and stay in Uncle Sam’s good graces, take my advice. Before you pack your bags and hit the road, read my new article … [Read more...]
Turn a two-person “seminar” into a deduction
Here’s a ruling of the Tax Court you should be aware of … In the Jones case, the Tax Court decided that one-on-one training constitutes a “seminar” for tax purposes. This precedent-making finding opens the door to some exciting tax-free travel opportunities. Want to find out more and then book a flight to Florida or St. Thomas? Read my new article titled Tax … [Read more...]
How to write off 100% of employee entertainment!
Did you know that Uncle Sam is a party animal and wants you and your employees to be party animals too? That’s right. As you’ll learn when you read my new article, contrary to popular belief, you can deduct 100% of some employee entertainment expenses — if you follow a few simple rules. Sure. I know that business-entertainment deductions are generally capped at 50%. But you … [Read more...]