Business Deductions Archives - Philadelphia CPA
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Business Deductions

Many clients ask me " do I have to keep a mileage log or some form of documentation to claim my auto or truck expenses"--My response and the tax courts response is always a resounding YES!!The Tax Court has this to say about the auto...

You can be rewarded with huge tax savings with heavy vehicle and home-office deduction combo.The heave vehicle produces quick deductions. A home office that qualifies as a principal office eliminates commuting miles, thus enhancing the business-use percentage of the vehicle(s).Here's a potential scenario. You purchase...

I can assist your small business in a number of significant ways, including:educate you to employ every legal tax deduction be in 100% compliance with the tax code avoid potential events that might trigger a tax audit reduce you taxes legally, morally, and ethicallyMy name is Mark Fineberg,...

There are generally tax strategies that can work for you and your business, if you understand the tax code.The Health Savings Account is a powerful part of a health care strategy because:saves you $$$ through lower taxes grows tax-free gives you a chance to take control of...

If you operate your business as an S Corporation, you will need to follow the accountable plan rules to lock in your home office deductions.The accountable plan  or reimbursement method is essentially an expense report that must be submitted to your corporation. Other ways to...

Let me introduce you to the Section 105-HRA--created from the IRS Section 105 medical reimbursement plan and the health reimbursement arrangement (HRA).This plan provides the best possible medical reimbursement plan. To qualify you must have only 1 employee and operate your business as:Proprietorship reporting on...