Running a business? Then, you know that money you spend for meals – or entertainment- that are business related are not fully deductible. Oh, sure, if you spend $ 100 wining and dining a client, your profits have been reduced by $ 100. Except that’s not how it appears on your Schedule C or Form 1120 or Form 1065. Because only 1/2 of that expense is deductible.
Continue reading 100% Deductible?
No. I am not worried about the “unlucky” number 13 that is today’s secular date. (It is also Shushan Purim, 15 Adar.) I’m worried that many of you have forgotten that the rules have changed.
Continue reading Uh-Oh.
Here, we go. It’s the heart of election season (only because we have made the primary season so long- and have it run right into the national election). Only, this time, there’s enough talk (but still no action) that maybe we- that’s you and me, folks- can goad our do-nothing Congress into doing something to back up everyone’s polemics.
Continue reading It’s time. No! It’s WAY past time!!!
One of the most common questions I receive this time of year (other than: “Can I please do their taxes?”) is. “What are my chances for an audit?”
Continue reading The Taxman Cometh- NOT!
Just the other day, I had a client ask me about records retention. And, as I prepared to answer her query, I realized that a lot of you probably have the same questions. So….
Continue reading How long?
Yesterday, we talked about individual income tax filing. Today, we will discuss the forms businesses, trusts, estates, and partnerships must file.
Continue reading T-8 (yes, really!)