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Posts from June, 2016

  • Tips for Determining Standard Meal Allowances for Business Travel & Entertainment The cost of certain meals purchased on business trips can be deducted from your taxable income. In fact, this is one of the most common employee and small business expenses claimed each year. When deducting a meal expense, the IRS allows taxpayers to use two different ... Continue Reading
  • How Long Should I Keep My Records After Filing My Tax Return? The Internal Revenue Service requires you to document the income or deductions you report on your individual or small business tax return. However, once you have used these tax records to complete your return, you may wonder whether you need to keep them and, if so, how ... Continue Reading
  • Small Biz Builder - June 2016 This Month: Are Retirement Plan Distributions Subject To Withholding? Employing Youth Prepare for Summer Storms! Continue Reading
  • Tips For Determining Automobile Allowance For Business Use Deducting small business expenses is one of the best ways to lower your tax bill. For many businesses and individual entrepreneurs, one of the most advantageous deductions is the automobile allowance. This deduction allows you to reduce your income based on the expenses you ... Continue Reading