Here’s a fact that every business traveler should know… If you follow a few simple rules, the IRS will allow you to treat your vacation cruise as a business transportation expense. This means you can deduct most or all of the cost of your luxury cruise, depending on your particular circumstances. Want to find out how to take advantage of the IRS’s sale on sailing? Read … [Read more...]
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How to throw a party and get a 100% deduction
Allow me to rewrite the lyrics of a famous song in order to help you cut your tax bill… The party's over, It's time to call it a day And if you’re up on the law, Deduct all expenses away. That’s right. Thanks to Uncle Sam, you can deduct 100% of the cost of your company parties if you follow a few simple rules. The bottom line? Before you crank up the music and the … [Read more...]
How to deduct your golf expenses. (It’s easier than you think!)
Do you hook or slice on the golf course? Don’t worry. No matter how well or poorly you play the game, when it comes to deducting your golf expenses, you can always sink a hole in one! That’s right. Uncle Sam will let you write off your golf expenses if you follow a few simple rules. And these same rules also let you deduct expenses for fishing, scuba diving, hunting, … [Read more...]
How to maximize business-entertainment deductions
Uncle Sam has some good news for you… If you handle things the right way, you can deduct lots of your business entertainment expenses! Do you like to talk business out on the golf course, or hanging out in a duck blind? The IRS will let you claim some hefty deductions no matter how you like to entertain, but you have to know the rules. You’ll learn how to mix business with … [Read more...]
How to deduct business meals with your spouse
Not so fast! Don’t automatically assume that the IRS won’t let you deduct the cost of a business meal with your spouse. If you know how to handle things the right way, you can enjoy a leisurely dinner with your wife or husband and let Uncle Sam pick up the tab! How can you overcome the IRS’s “no deduction for personal, family, or living expenses rule”? You’ll find out when … [Read more...]