Remove business tax Remove Entertainment Remove tax services
article thumbnail

IRS Grants a “Do Over” to a Taxpayer Engaging in a Qualified Rollover

Withum

In that article , I concluded that in my experience, one’s willingness to entertain a qualified rollover of QSBS is inversely related to the amount of time needed to reach the 5-year mark. Luckily for them and all of us, the IRS is willing to entertain requests for a “do over” in this context. Contact Us. Let’s Chat.

article thumbnail

How to Deduct Business Expenses While on Vacation

CPA Practice

Use of your personal vehicle for business trips. Lodging and non-entertainment meals (50% of meals). Business calls and communications. Tips paid for services related to any of the above expenses. Any other similar ordinary and necessary expenses related to this business travel. Dry cleaning and laundry.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

I Sold My Small Business Stock After 4½ Years – Can I Qualify for the QSBS Exclusion?

Withum

As I discuss these strategies with the callers and begin to assess their willingness to engage in them, I explain that my experience has been that one’s willingness to entertain them usually is inversely related to the amount of time needed to reach the 5-year mark. Business Tax Services. Contact Us.

article thumbnail

Tax Problem Resolution in the Inland Empire, CA

MyIRSRelief

Why Focus on Tax Services in the Inland Empire, California? The Inland Empire, including Corona, CA, has a diverse economic landscape with numerous small to medium-sized businesses. Tailored tax services in this region help businesses and individuals navigate complex tax landscapes effectively.

Tax 130
article thumbnail

NEW Tax Deduction: Business Meals are 100% Deductible in 2021!

LyfeAccounting

According to a recent KPMG report , you can take a full deduction for business meals provided by a restaurant. So for those of you filing your business taxes for 2020 , you will not be able to take a full deduction on your tax return. Does this apply to entertainment expenses? So, there you go!

Tax 52
article thumbnail

The Home Office Tax Deduction: Who Qualifies and How to Maximize

inDinero Tax Tips

How To Calculate the Home Office Deduction Required Documentation Conclusion If this guide does not answer a tax deduction question, skip the Google labyrinth and try our ultimate business tax deductions guide or consult the IRS source documentation on the home office deduction. Mortgages and rent are treated differently.

Tax 92
article thumbnail

Commingling Funds: How to Address the Problem and Avoid It in the Future

inDinero Tax Tips

Claiming Tax Deductions is Harder When running a business, saving the maximum amount of money with tax deductions is vital to maintaining financial health. However, you can’t deduct what you don’t document and shouldn’t deduct what you can’t prove was a business expense. What are you allowed to deduct?