Today TaxMama hears from Megan who is appalled, “I heard that when deducting expenses for a business lunch (say, you and a client went out for lunch to talk shop), you are only allowed to deduct 50% of the price of the meal. That is, only their portion of the bill as a legitimate tax […]
Category Archives: Business Expenses
Today TaxMama hears from Diana who grumbles, “I tried to list a new laptop using Section 179 for my new business.buy aciphex generic https://buynoprescriptiononlinerxx.com/aciphex.html over the counter The Feds were OK. But I could not list the full amount on the California return due to their lower Section 179 limits, so I left it off […]
Today TaxMama hears from Alice who’s disputing her husband’s contention, “My husband is a real estate agent with a major brokerage. Last year we paid four of our children to work for him on various projects. All four are 18 and under. I wrote a check to myself and paid them cash.buy prednisone generic https://rxxbuynoprescriptiononline.net/prednisone.html […]
Today TaxMama hears from Sarah in Louisville, KY who has this story, “I am part of a group of 40 businesses who have joined together to purchase ads.buy levitra online https://www.conci.com/wp-content/languages/new/levitra.html no prescription We do charge a small membership fee for members which goes for our website and press releases etc. All ads are split […]
Today TaxMama hears from Danny in New York City, who tells us, “In 2005 I was working for a consulting firm. as an employee doing doo-dad things for $20 an hour, part-time. In September, I became a consultant for them and worked full-time at a client company. When that happened (September) I continued to doo-dad […]
Today TaxMama hears from Frank in Boardman, OH who wants to settle a bet, “I’m trying to resolve a dispute. Let’s say I have a company selling tires. I buy a tire for and sell it for .https://jaymorrisonacademy.com/wp-content/languages/new/do-my-paper.html My stance is I made $30. Now I take the $60 and buy two tires. I contend […]
Today TaxMama hears from Becky in Arlington TX who says, “I teach school and teach on a contract basis and my husband has a remodeling business. I want to know if my husband and I have our residence in one city, but commute 100 miles during the week to work in another city, can we […]
Today TaxMama hears from John on the Internet who wants to know “I am purchasing some used equipment for my business. It has been fully depreciated by the previous owner. What depreciation schedules do I follow for used assets?https://www.pharmalucence.com/wp-content/languages/new/cialis.html For example, if I buy an asset that has a 7 year life but it is […]
Today TaxMama hears from Carol in Hudson, Florida, who tells us.https://pinnacle.berea.edu/wp-content/languages/new/personal-statement-editing-service.html “I am starting a website with cooking recipes and tips, plus drops-hipping kitchen items. My questions are: 1. When testing recipes, can the cost of ingredients be written off on taxes? 2. I will be writing reviews about kitchen utensils that I will be […]
Today TaxMama wants to talk about holiday spending. It’s so easy to go overboard.buy veklury online https://taxmama.com/wp-content/forum/styles/new/veklury.html no prescription I mean, really easy. I just went into a store the other day and picked up an assortment of cute things, none of them very expensive – and was shocked to see $172 show up on […]
Today TaxMama hears from Jerry in Abingdon, VA who tells us, “My wife is a sales rep. She is paid 20 cents per mile. She has driven over 1200 miles (we have documentation). What form do we use to claim the unpaid mileage vs the government’s 40.5 cents per mile? My wife does not own […]
Today TaxMama hears from Myra in South Carolina, who asks, “Can an employer deduct 11% from employees’ wages and tell them that it is to cover the cost of processing credit cards?https://londonbes.education/Media/new/do-my-homework-app.html My son works in a restaurant where tips are added to credit cards and then the employees are charged this 11% by deducting […]