Clik here to view.
Can I Deduct This? The “Ordinary and Necessary” Threshold
Today begins a new feature on Mac’s Tax Break called “Can I Deduct This?” This is a question business owners frequently ask me. I’m talking about whether an item is deductible as a business expense....
View ArticleClik here to view.
Can I Deduct This? Business Clothing
I recently had an associate ask me “What clothing expenses can I deduct?” This person frequently appears on television and provides his own wardrobe. He came to me with the “Can I Deduct This?”...
View ArticleClik here to view.
Can I Deduct This? Travel Expenses: Lodging
Photo Credit: David Castillo Dominici Despite the ability to communicate readily via various technologies, there’s still often a need, some might even say more of a need than in the past, to travel to...
View ArticleClik here to view.
Can I Deduct This? Best Practices – Expense Reports
Recordkeeping and documentation can be time-consuming and sometimes difficult when you are busy running your business. However, keeping the right kind of records and doing so in a timely manner are...
View ArticleClik here to view.
Can I Deduct This? De Minimis Tangible Property
While business expenses that are “ordinary and necessary” are generally deductible in the year they are incurred, some expenses are required to be “capitalized” and are subject to the cost recovery...
View Article
