- Meal Expense Tax Deductibility – 50% vs 100%
Any food and beverage expenses that are directly related or associated with the active conduct of a trade or business are allowed to be deducted as business meal expenses to the extent that they are not lavish and extravagant. - See more at: http://www.mytaxfiler.com/blog/meal-expense-tax-deductibility-50-vs-100/#sthash.pCbCbFUj.dpuf
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- Should Warren Buffett’s $3.46M Lunch Be Tax Deductible?
About taxes, John F. Kennedy once said, ”The slogan—’It’s deductible’—should pass from our scene.” (Special Message to Congress on Taxation, Apr. 20, 1961.) JFK was commenting about expense accounts and business entertainment in the Mad Men era of the three martini lunch. However, his message had broader implications even then.
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- Travel The World, Write It Up, Write It Off
You have to admit it sounds awfully good. Travel the world, write your experiences, and write off all your expenses on your taxes. - See more at: http://www.mytaxfiler.com/blog/travel-the-world-write-it-up-write-it-off/#sthash.S2lF70KJ.dpuf
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- What If A Taxpayer Doesn’t Have Receipts?
If you understand anything about our tax system, it’s probably that you must have receipts. As a tax lawyer for the last 30 years, it seems like heresy to suggest that clients might not have to save all those pesky receipts to prove their deductions.
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