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...]
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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...]
Don’t let the IRS poach your business hunting-trip deductions
Do you enjoy hunting? If you do, my new article is for you. You see, in Part 5 of my series on entertainment-facility tax law, you’ll find out how the IRS and lawmakers are taking potshots at your hunting activities. Want to learn how to keep these valuable entertainment-facility deductions? We’ll explain winning strategies you can use now when you read my new article … [Read more...]
Old receipts never die. They just fade away.
You take a client out for a business lunch and when you get back to the office, you file the receipt away just like the IRS wants you to. Then, years down the road the IRS calls you down for an audit and asks you to produce your receipts. You go to your file and discover that the thermal paper receipts your favorite restaurants used have faded and are unreadable. The … [Read more...]
How to get a tax deduction for your vacation home
Good news! Under IRS rules, your vacation home can avoid the dreaded “entertainment facility” disallowance rules. But you have to know exactly how to meet the law’s detailed requirements. In Part 4 of this series on entertainment-facilities, you’ll learn how to use the business-meeting and overnight-lodging rules to turn your cozy vacation home into a cozy tax-deductible … [Read more...]