Tag Archives: expenses
Are deductions allowed for business-related entertainment expenses?
Thursday, May 6, 2010 // 0 Comments // FAQs
Entertaining customers is sometimes a key part of the job, so the IRS does allow deductions. You may only deduct 50% of the expenses for a business lunch or dinner though. Besides meals out, deductions are permitted for taking a client out to a ball game or even hosting a client dinner at your home. [...]
Read more & Talk about itCan I deduct expenses from using my car for business?
Thursday, May 6, 2010 // 0 Comments // FAQs
Yes, you may take a deduction for automobile use. However, you’ll need to keep detailed records to support this deduction, in case the IRS decides to audit you. Your records should include a log of all miles traveled for business purposes, with a notation indicating the purpose of the trips.
Read more & Talk about itI’m planning to start a small business, but I’m worried I’ll do something wrong and violate IRS rules. What can I do to avoid trouble?
Thursday, May 6, 2010 // 0 Comments // FAQs
The best way to avoid problems is to keep detailed records and to seek the advice of financial professionals. For example, if you’re making deductions for auto expenses and for advertising, you’ll need to keep all canceled checks and other documents pertaining to those deductions. Be especially vigilant with maintaining records for travel, entertainment, and [...]
Read more & Talk about itPart-Time CFO Services
Thursday, May 6, 2010 // 0 Comments // Business
Smart business decisions begin with the right tools. Four Brothers Financial, LLC. delivers the data you need throughout the fiscal year. Instead of dealing with finances on your own, let our professionals help. » Accurate tracking of company expenses and income » Providing a monthly report detailing current accounting standings » Generating financial statements and [...]
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