Treatment of Transportation Expenses When Not Traveling Away from Tax Home

When you ride a cab or get in your own car to do business somewhere, have you ever thought of your transportation costs and how much of it you can…

Meal Expenses: How Much Can You Deduct?

Treating your customers and employees occasionally is one of the best ways to build your business. Going the extra mile to make them feel valued goes a long way, although…

Bookkeeping and Accounting for Starters

At the outset, startups and new businesses have to operate with limited resources, sometimes making difficult choices between operational outlays and administrative needs. However, no matter how strapped you are…

Getting Started with Your Very Own Business Venture

A great start-up business always starts out as an idea, but you have to transform that idea into action. That’s where many individuals can start to feel overwhelmed. It’s understandable…

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…

Visiting Your Dream Destination While Winning the Audit: Here’s How You Do It

Taking a trip to the destination of your dreams sounds fun, but nothing is more fun that taking a trip while winning the resulting audit at the same time. Yes,…

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….

How to Effectively Manage Business Risks

Risks are normal in any business. Even the most successful businesses today had to deal with certain threats in the past that almost laid their success on the line. Sometimes,…

Employment Matters: The Difference Between Contractors and Employees

When there’s extra work that needs to get done and there are no sufficient employees to do the job, companies usually hire more workers to keep up with the customer…

What is Incorporation and How Does It Work?

One of the first decisions you have to make in creating an incorporation is the type of business you want to create. A sole proprietorship? A corporation? A limited liability…