Do you attend business conventions, seminars, or similar meetings? If you do, don’t assume that you can automatically “write off” your attendance expenses. The fact is, you could lose those valuable deductions if the event is held in the wrong location. Or if the “wrong” group of people are in attendance. Or if your purpose for attendance doesn’t meet the standards required … [Read more...]
Travel
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How to maximize your travel-expense deductions
It’s a pity that so many business owners don’t deduct all the travel expenses that the IRS allows. And it’s not surprising that they’re missing these hefty deductions. You see, the tax code is filled with so many rules and regulations it’s hard to know exactly which deductions you’re entitled to. That’s where my new article comes in. It lists practical and completely legal … [Read more...]
How to deduct travel by car, train, plane, or boat
If you travel (even a little), you need to know the different modes of transportation you can use and the unique rules and regulations that the IRS applies to cars, trains, planes and boats. Want to find you how to maximize your travel deductions, even when you combine a pleasure with business? Read my new article titled Tax Tips: How to Deduct Travel by Car, Train, Plane, or … [Read more...]
Don’t let the “Tax-Home” rule kill your deductions
Do you know what the “Tax-Home” rule is? You should! You see, this IRS rule is extremely important if you have a business operation that’s located away from your personal residence. IMPORTANT FACT: If you don’t comply with the tax-home rule properly, you risk destroying some or all of your home-office deductions, business-vehicle deductions, and overnight-travel … [Read more...]
How to get a tax deduction for your motor home
Do you own a motor home? If the answer is “Yes,” you might be in line for some fat tax deductions! Of course, when you deal with the IRS you need to know the rules of the road. For example, “lodging” is covered by one set of rules. And “transportation” is governed by another. Want to get the whole story in language that’s easy to understand? Read my brand new article … [Read more...]