Eat, drink, and be merry, for tomorrow you dine. And you’ll dine 100% tax free if you know the law… as I’ll explain in my new article. That’s right. When you take your employees out to lunch, the IRS normally lets you deduct just 50% of the lunch expense. But, if you know how to play the IRS’s game, you can provide meals for your employees and write off 100% of the … [Read more...]
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Don’t let expense report blunders trigger higher taxes
Do you operate your business as an S or C corporation? Do you reimburse yourself (the owner-employee) and/or your employees for the business expenses you or they incur? If you do, you could be losing thousands of dollars worth of tax deductions as I’ll explain in my new article. You see, if you don’t follow the IRS’s expense reporting rules (“accountable plan” rules) you’re … [Read more...]
Let Uncle Sam pay for your vacation cruise
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...]
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...]