by tbcinfo | Sep 1, 2011 | Tax
Is your business office in your home? Did you know that the IRS allows you to take a tax deduction for this? There are however, certain parameters. To qualify, the area must be used regularly and exclusively for business purposes. It should also be a clearly...
by tbcinfo | Aug 1, 2011 | Tax
As with mileage, it is important to keep good records of all your meal or entertainment expenses throughout the year. In addition to the price of the meal (how much), the IRS wants to know the 4 W’s: who you were with – names of your guests why you met – reason for...
by tbcinfo | Jul 1, 2011 | Tax
It is very important to keep a good record of your mileage for tax purposes. You should always record the beginning and ending mileage each year. This is important whether you use mileage or depreciate your vehicle. When you use mileage, you should keep some kind of...
by tbcinfo | Jun 1, 2011 | General, Tax
Vacations are fun and usually for your personal pleasure. However, sometimes you use part of your vacation to explore or expand your business opportunities. If you do this, and keep good records, you will be able to write off at least part of your vacation. To...
by tbcinfo | Dec 4, 2010 | Accounting, General, Tax
Is your current business entity still the right one for you? Businesses grow – hopefully. Businesses change – always; which is why it’s good practice to review your business entity periodically. If you’ve made some big changes this year in the size or scope of your...
