To get my complete, FREE articlewith all the details… Many years ago, the Beatles wrote a song called “Eight Days a Week.” If the IRS heard this song, they’d rush out and start writing rules that regulate travel-deductions taking place on the eighth day. They love this stuff! Yes. The IRS thrives on rule-writing,nitpicking, and complexity. However… if you take a … [Read more...]
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Now, Deduct 100% of Your Business Meals!
To get our complete, FREE articlewith all the details… Eat, drink, and be merry, because tomorrow you dine. Why should you be merry? Because thanks to a new law and new IRS regulations, all your business meals qualify for a 100% tax deduction! This includes restaurant meals, take-out, and delivery! Read the full, complete article for full details. Here’s the … [Read more...]
Update: COVID-19 Tax Relief Measures after the New Law
On December 27, 2020, the newConsolidated Appropriations Act (CAA) became law. How will it affect you? For the answer, read the full article… “Update: COVID-19 Tax Relief MeasuresAfter the New Law” A little history… As you probably remember, the CARES Act made many temporary changes in the tax law. Some were helpful. Some were not. But the CARES Act changes … [Read more...]
Create Deductions: Use Your Vacation Home for Business Lodging
Do you own a vacation home or condo? If the answer is yes, remember this… If you use your property for personal use and business lodging, you’re entitled to some valuable deductions. What’s more, you can avoid oppressive vacation-home, and passive-loss rules… rules that can cost you big money and big problems with the IRS. (NOTE: Because we’re in the midst of the … [Read more...]
Does the Per Diem Expense Option Stick It to Business Owners?
If you run your own business and travel on business, the per diem option may look like a good deal. I get it. That’s because instead of keeping track of every dollar you spend on travel and lodging, you can deduct a fixed amount and call it a day. But be careful! There’s a business-owner per diem trap set for youthat you don’t want to fall into. What is it? How … [Read more...]