TaxYou only need to file one corporate tax return for the two businesses. Can I deduct what I pay my brothers?
Yes. The Internal Revenue Code permits a taxpayer to deduct ordinary and necessary expenses attributable to operating a trade or business, including property held for the production of rental income. Can we write off sponsorship of an event?
Perhaps. The IRS says for an expense to be deductible, it must be "ordinary and necessary." What deductions can a vet make for spaying and neutering services?
The Internal Revenue Code allows for a charitable deduction for the cash or goods donated to a non-profit organization.
Business Meals and Entertainment Expenses: What You Can and Can't Deduct
Tax Implications of Combining Business And Vacation Travel Tax Breaks Can Help Some Businesses This Holiday Season Ask the Right Questions to Claim Business Travel Deductions
Is sales tax paid on evaluation units?
Whether or not tax applies to an evaluation unit generally depends on what happens to it after the customer evaluation. Let’s look at three common scenarios. Should I get expert help for reporting sales and use taxes for my small business?
The state of California is becoming more aggressive in its audit and enforcement program for sales and use taxes. Can tax be charged on Internet sales?
Many politicians have promised not to tax the Internet, but they were talking about the use of the Internet, not sales made over the Internet.
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In accordance with IRS Circular 230, the information on this website is not intended or written to be used, and cannot be used as or considered a "covered opinion" or other written tax advice and should not be relied upon for the purpose of avoiding tax-related penalties under the Internal Revenue Code; promoting, marketing, or recommending to another party any transaction or tax-related matter(s) addressed herein; for IRS audit, tax dispute or other purposes.
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