Financials

Hello, Evelyn here again talking about meal deduction while traveling. Now, there is a difference between meal deduction when you're eating locally and when you're eating travel... While traveling. Some business owners think that when they stop for breakfast on their way to work, that meal is deductible. I've had to catch it a couple of times in my clients' books. But that notion is wrong. Just because meal and

Today, I'm talking about... Hi, Evelyn here. Today I'm talking about meals and entertainment expenses, specifically local meals. So let's talk about deducting meals. The amount to deduct meals you must maintain records to show the amount of the expense, the time, and place. This purpose of the expense and the business relationship between the taxpayer and the person eating with the taxpayer. So in other words, to deduct the

Come with me on a journey for just one second. Imagine you were in a community where there was no grocery store. Every time somebody wanted to buy something, they had to travel 35 miles to the nearest grocery store, and this problem had just become so annoying to you, that you said, "You know what? I am going to start my own grocery store." So, you saw a problem and

Do you have goals like, "I want to build a business I can pass on to my children." "I want a business to provide stability in my retirement years." "I want a business I can sell something and have a big payoff." Those are all retirement plan goals. So, if these are your goals for starting your business, or your reasons for starting your business, go ahead and watch this

Did you start your business just to meet your lifestyle needs? In other words, you started a business because you wanted to spend more time with your family, maybe provide for your family, or you just wanted to travel or do whatever and didn't want to be tied down by the demands of an employer, but at the same time you wanted to have a business so you can have