Did you know that if your tax bracket goes from 15 percent to 25 percent, for instance, that this does not mean an increase of 10 percent in taxation. Actually what it means is a 67 percent increase in taxation! The IRS calculates the increase by dividing this 10...
Okay, more IRS requirements for deducting transportation costs. Knowing these rules can be an important way to save valuable tax dollars in your small business venture. Don’t just dismiss these deduction options, they can save you lots of money all while...
So you have a small side business and you want to combine business with pleasure as you travel to a seminar or convention. The rules governing transportation deductions for this kind of travel are different than any other kind of travel. To understand these rules,...
As I mentioned in previous posts on deducting travel expenses, transportation costs to and from your business travel destination are governed by rules separate from On-the-Road Expenses. Transportation costs include the expenses you incur traveling to and from your...
You may have heard that under some conditions, you can deduct a cruise as a business expense (if you attend a cruise ship convention, for example). It is possible to deduct some of the expenses for such travel, but the rules governing cruise write-offs are constantly...
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