Eat up! Thanks to changes in the Tax Cuts and Jobs Act (TCJA), it’s now much easier to write-off business meals for you, your customers, other business contacts — and even your spouse! That’s right. The IRS has reverted to the pre-1963 (more business-friendly) “ordinary” and “necessary” business-expense rules. So what are they? We’ll explain fully when you read my new … [Read more...]
Fringe Benefits
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How to Deduct Cruise Ship Conventions, Seminars, and Meetings
Sure. You can attend a convention, seminar, or meeting at a hotel somewhere. But wouldn’t it be a lot more fun for these events to take place on a cruise ship or at an exotic location? Well, you can, you know, but you really have to understand the IRS rules which can be tricky. Luckily, we know them all and we’ll show you how to come out a winner when you read my new … [Read more...]
Don’t Make This S Corporation Health-Insurance Deduction Mistake
Do you own more than 2-percent of your S corporation? Then be sure to follow the special IRS rules that allow you to deduct your health-insurance premiums. These rules are particularly important if your S corporation employs your parents and/or non-dependent children who don’t own any stock in your corporation. And be aware: If you handle things the wrong way, your … [Read more...]
How to Reimburse Medicare When You Have Fewer than 20 employees
Do you structure your business as a sole-proprietor, partnership, S or C corporation? Do you have fewer than twenty employees? Then our new article makes “must” reading. Why? Because we’ll explain how new IRS regulations allow you to reimburse Medicare parts B and D to your Medicare-covered employees. If you want to learn how to comply with the law and avoid painful … [Read more...]
How to Deduct Medicare as a Business Expense?
If you operate as a proprietorship, a partnership, an S corporation, or a C corporation, you’re undoubtedly aware of an unpleasant fact… Premiums for Medicare health insurance can add up to a lot of money. This is especially true if you earn a high income, you’re married, and both you and your spouse are paying premiums. But hang on for a second. If you know how to play … [Read more...]