Know What Kind of Documents are Needed When Claiming Business Travel Expenses

It is clear that taxpayers can deduct regular travel expenses when the trip is entirely business related. Additionally, if the taxpayer is on a domestic business trip and made personal…

How Important is Recordkeeping in Claiming Your Deductible Business Expenses?

What sets a stress-free business owner apart from a stressed-out one during tax time? Records. Some may think that records are nothing more than pieces of papers, but when it…

Dining, Drinking, Merrymaking—Know When Your Entertainment Expenses are Deductible

Dining, Drinking, Merrymaking—Know When Your Entertainment Expenses are Deductible

Business isn’t always about the dull stuff. In fact entertainment is a part and parcel of most businesses, and the good news is that most entertainment expenses are actually deductible….

A Business Owner’s Guide in Deducting Business Travel Expenses

You’ve worked hard all year long that you can’t find time for some vacation. You’re worried that your business will suffer when you go away for several days. Or you…

Thinking About Becoming An Enrolled Agent ?

 Do you want to be called a tax expert? Is it your goal to represent taxpayers before the IRS? Do you desire to be respected as a professional?  If so,…

Ten Recordkeeping Rules and Five Bonus Tips in Claiming Travel Expense

Good recordkeeping may not be in the list of business secrets of successful entrepreneurs. But for the company’s accountant or bookkeeper, it is very important.  It can significantly reduce the…

How to Get Reimbursed for Tips and Other Incidental Expenses During a Business Trip

Traveling for business has a lot of perks. It may mean spending some time away from the office and dealing with a lot of tasks as a result, but for…

How Freelancers Can Write Off their Business Travel Expenses

While there are many risks of being a freelancer, it cannot be denied that there are plenty of benefits, too. One advantage of being self-employed is that you can make…

Deducting Your Trip To India – Detailed Business Expense Guide

Suppose that you have just arrived from a two week trip to Europe, where you were able to close some deals while visiting some old friends. You’re so happy not…

Dealing with IRS and other Tax Audits

It’s one of those fears that bog the minds of rich people and even ordinary taxpayers—getting audited by the IRS. But what are the chances that you’ll be audited by…