What is deductible when work happens at home or on the road: the home office deduction, the Augusta rule, travel, per diem rates, and the current meals rules.
27 guides, each written by a CPA licensed in the US and Canada.
Business gifts are deductible up to $25 per recipient per year under IRC 274(b). This limit has not been adjusted for inflation since 1962.
Small Business & BookkeepingBusiness gift deductions are limited to $25 per recipient per year under IRC 274(b). Business gift, meal, and entertainment deduction rules (current.
Small Business & BookkeepingBusiness meals are deductible at 50% of cost when the meal has a clear business purpose and is not lavish or extravagant.
Small Business & BookkeepingBusiness meals are 50% deductible when the meal involves a business discussion with a client, customer, or business associate.
Small Business & BookkeepingBusiness meals are 50% deductible in 2025 under IRC 274(k) when the taxpayer or an employee is present, the meal has a clear business purpose.
Small Business & BookkeepingBusiness meals are 50% deductible in 2025 (the temporary 100% deduction for restaurant meals expired after 2022). Includes IRS rules, documentation.
Small Business & BookkeepingBusiness meals with a client or prospect are 50% deductible under IRC 274.
Small Business & BookkeepingBusiness meals are 50% deductible in 2025 (the 100% restaurant meal deduction expired after 2022). The temporary 100% deduction for restaurant meals.
Small Business & BookkeepingBusiness meals are 50% deductible in 2025 (the 100% deduction for restaurant meals expired after 2022). 2025 business meals deduction rules: 50%.
Small Business & Bookkeeping50% deductible: Business meals with a client, prospect, vendor, or business associate where business is discussed before, during, or after the meal.
Small Business & BookkeepingThe 50% business meals deduction requires contemporaneous documentation of 5 elements: amount, date, place, business purpose, and business relationship.
Small Business & BookkeepingBusiness meals are 50% deductible if the meal has a clear business purpose and is properly documented. What is 50% deductible: - Meals with clients.
Small Business & BookkeepingBusiness travel expenses are deductible under IRC 162 when the trip requires an overnight stay away from the taxpayer's tax home.
Small Business & BookkeepingBusiness travel is deductible when the taxpayer travels away from their tax home overnight for business purposes. Includes IRS rules, documentation.
Small Business & BookkeepingBusiness travel expenses are deductible under IRC 162(a)(2) when the travel requires the taxpayer to be away from their 'tax home' overnight (or long.
Small Business & BookkeepingBusiness travel is deductible when the trip is primarily for business, requires overnight stay. Business travel deductions are among the most valuable.
Small Business & BookkeepingMost small business owners use personal assets for business: their phone, internet connection, computer, vehicle, and sometimes their home.
Small Business & BookkeepingThe home office deduction allows business owners to deduct expenses for the portion of their home used regularly and exclusively for business.
Small Business & BookkeepingThe home office deduction requires exclusive and regular use of a dedicated space. Simplified method: $5/sq ft up to 300 sq ft ($1,500 max).
Small Business & BookkeepingThe home office deduction requires exclusive and regular business use of a specific area. The simplified method offers $5/sq ft up to $1,500.
Small Business & BookkeepingThe home office deduction is available to self-employed individuals who use a dedicated space regularly and exclusively for business.
Small Business & BookkeepingThe home office deduction requires exclusive and regular use of a dedicated space. The simplified method is $5 per square foot (max $1,500).
Small Business & BookkeepingA home office converts otherwise non-deductible personal expenses (mortgage, rent, utilities) into business deductions. Home office deduction methods.
Small Business & BookkeepingBusiness meals are 50% deductible when there is a clear business purpose and the taxpayer or employee is present. Includes IRS rules, documentation.
Small Business & BookkeepingRenting personally owned property to your S-Corp creates a deductible expense for the business and rental income for you personally.
Small Business & BookkeepingThe home office deduction is available to self-employed business owners who use a portion of their home regularly and exclusively for business.
Small Business & BookkeepingIRC 280A(g) allows homeowners to rent their home for up to 14 days per year without reporting the rental income. Augusta Rule mechanics: 1.