deductible expenses Archives - BeachFleischman CPAs

The deductibility of corporate expenses covered by officers or shareholders

July 27, 2021 February 17, 2022 Tax Department Financial & Professional Services, Tax Bites corporate expenses, deductible expenses

If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Here are the rules.

How Congress is Planning to Rescue Restaurants Through Tax Deductions

February 5, 2021 March 19, 2021 Benjamin Schutt Hospitality, Tax Bites CAA, CARES, COVID-19, deductible expenses, meals and expenses, restaurants, tax deductions

Lawmakers seek to tweak an existing business deduction to boost the restaurant industry’s bottom line and put thousands back to work.

Tax implications of working from home and collecting unemployment

September 16, 2020 November 4, 2021 Tax Department COVID-19, Tax Bites CARES, COVID-19, deductible expenses, unemployment, working from home

Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.

How entrepreneurs must treat expenses on their tax returns

April 24, 2019 April 23, 2019 Tax Department Tax Bites deductible expenses, expenses, new business, start-up costs, start-ups

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more.[ … ]