Tag's: IRS

Deducting Local Meals For Business Tax Write-Off

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
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IRS Audit Red Flags To Avoid As a 1099

Today I'm talking about... Hi, Evelyn here again. It's tax time. And nobody wants to be audited by the IRS. So today, I'll just talk about some red flags you need to look at as you file your tax returns.So to avoid a IRS audit what you have to do, is you have to make sure that the amount on your tax return matches your 1099. So you don't want
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End of Year Tax Planning: Overlooked Deductions (Part 1)

[Transcription]Today, I'm talking about.Welcome to your last minute 2018 tax planning. Today, I am going to talk about an overlooked tax deduction called the business bad debt. Specifically, we'll be talking about a business bad debt. What is a business bad debt? So now let's say, one of your customers comes to you, you provide a service, and then you provide a service, but they didn't pay you. They
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Family Leave Policy IRS Credits For 2018

Today, I'm talking about... Let us talk about a new credit for your employees. This lesson only apply to those business owners that actually have employees. In 2018, if you have an employee and you pay them for either a family or medical exempts, you can get it in your credit. Ow, that credit has to meet, the payment has to meet certain requirements. You have to have a written policy
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Small Business Tip Audit Proofing Your Business Financials Part 4

Today I'm talking about...If you have listened to my other videos, you heard me talk about the annual meeting. If you're a corporation, you are required to have an annual meeting. When you went to the Secretary of State and you filed that paperwork, that was part of the contract you have with the Secretary of State. You are supposed to hold this meeting once a year; it's a
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