Businesses Should Keep Detailed Records for Meal and Vehicle Expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax

2021-06-22T09:50:45-06:00June 22nd, 2021|

Deducting Business Meal Expenses

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed for deducting business meal expenses under the Tax Cuts and Jobs Act (TCJA),

2021-04-12T14:55:28-06:00May 1st, 2019|
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