Document!

Posted on Leave a commentPosted in Business Taxes, Tax

Documentation is the key to business expense deductions If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions. Here are two recent U.S. Tax Court cases that help illustrate the rules for documenting deductions. Case 1: Insufficient records In the first case, the […]

Spousal Health Coverage

Posted on Leave a commentPosted in Business Planning and Consulting, Business Taxes

Should you offer spousal health care coverage? As an employer looking to control and manage the costs of benefits and costs, there are many ideas to consider. One in particular is whether and how to offer health care insurance to their employees’ spouses. The Affordable Care Act doesn’t require spousal coverage. It only requires coverage for […]

Deducting education expenses for employees

Posted on Leave a commentPosted in albuquerque CPA , TAX advice, Business Taxes, Colorado Tax and Accounting Consultation

Deducting education expense — good for employer and employee! Training is one of the most sought after benefits of those entering the workplace. While most employee training, most employee training occurs in-house, as an alternative, area colleges and trade schools may be a great source of education in professional development. If you reimburse employees for […]

Combining business and vacation travel: What can you deduct?

Posted on Leave a commentPosted in albuquerque CPA , TAX advice, Business Planning and Consulting, Business Taxes, Colorado Tax and Accounting Consultation, Tax, Uncategorized

If you go on a business trip within the United States and tack on some vacation days, you can deduct some of your expenses. But exactly what can you write off? Transportation expenses Transportation costs to and from the location of your business activity are 100% deductible as long as the primary reason for the […]