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TwitterProbably the most common business deductions are meals and entertainment. However, people are often confused about whether the expenses are fully deductible, partially deductible or not deductible at all. 50% Deductible The general rule for deducting meals and entertainment expense is that 50% of the cost is deductible provided the following requirements are met. Requirement [...]
Posts Tagged ‘Meals’
A Checklist to Properly Document Your Meals and Entertainment Expenses
November 11th, 2009 
admin One thing you can always count on during an audit is a request for documentation supporting meals and entertainment expenses. The IRS has found that these expenses are heavily abused and are an easy way to generate additional tax revenue, not to mention additional revenue from penalties and interest. You don’t have to spend a [...]
Posted in entertainment 
Tags: Checklist, Document, entertainment, Expenses, Meals, Properly 
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