Business Deductions Archives - Page 8 of 10 - Philadelphia CPA
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Business Deductions

Your child or children potentially could be a valuable employee, as well as a significant tax write-off!! This has to be one of the most underutilized tax reduction strategy for small business owners with families.I always make my clients aware of being able to pay...

If you are a business owner, this is an extremely important briefing.The general rule is that business owners MUST issue a Form 1099-MISC to each person, partnership, Limited Liability Company (LLC),  or Limited Partnership (LP) to whom you have paid $600 in services, rents, or...

On December 16, 2014, Congress passed the "Tax Increase Prevention Act of 2014", that the President signed into law on December 19, 2014. The Act extends through 2014 a number of depreciation and other expensing provisions for businesses that had expired at the end of...

While the tax law may not always require receipts, the tax law always requires proof. If you do not have receipts, you have to prove your expenses in some other way.-which may mean reconstructing your business deductions several years after the fact. You will make...

Most entertainment expenses are 50% deductible. However, the IRS allows you to write off  100% of entertainment expenses, if you are using it to grow your business and you follow the rules.The IRS uses the term "associated entertainment", but its really fun. That's right, such as...