Before you head out for an international business trip, talk to your accountant about how to take advantage of as many deductible expenses as possible. Many of the IRS regulations for deducting international travel expenses depend on the percentage of the trip that is business or personal. If you know the rules before you go, [...]
It is ordinary and necessary for your industry. = common, appropriate and helpful This doesn’t mean that the meal is required or indispensable. It is not lavish or extravagant for the business’s industry. = reasonable based on facts and circumstances This doesn’t mean a specific dollar threshold. The taxpayer is present at the meal. = [...]
Yes, you can. But, you shouldn’t. Especially, if you want to believe in your numbers. In our experience, this arrangement harms you more than it helps you. Therefore, we don't set up accounting systems that you maintain yourself. Our refusal is for your sake, not ours. When we have tried this in the past, it [...]
Everybody is doing it? Nope, I am not talking about kung-fu fighting. I am talking about cash flow forecasting. ♪ ♫ ♪ ♫ ♪ Oh - wo - wo - wooooo Dut - dut - du - dut - dut - dut [...]
