Business Deductions

/Tag:Business Deductions

Donating Professional Time to Charity

By | August 23rd, 2017|Categories: Small Business Tax and Accounting|Tags: , |

The bottom line with it is, you can’t deduct the value of your donated time.

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When Are Purchases Made With a Credit Card Deductible?

By | February 15th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

If a cash-basis business uses a credit card for business expenses, are those purchases deductible right away, or later on when the credit card debt is paid?

Having a Side Business in Multi-Level Marketing Doesn’t Make Personal Expenses Deductible

By | September 18th, 2013|Categories: Potpourri of Tax Topics|Tags: , , |

Some people mistakenly believe that having a side business means everything in their life becomes tax deductible.

From the Archives – Flight Lessons Crash Land

By | February 27th, 2012|Categories: From the Archives|Tags: , |

It's the heat of tax season, plus Jason is working on finishing a manuscript for an upcoming continuing education seminar he is presenting at. Rather than make you wait for new posts, Jason has dug into the archives to pull out some of his personal favorites from days gone by. From not so deep in the [...]

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Real Estate Broker’s Deduction for Flight Lessons Fails to Take Flight in Tax Court

By | January 4th, 2012|Categories: Small Businesses Taxes|Tags: , |

A real estate broker's attempt at deducting the cost of flight lessons as a business expense crashed and burned in Tax Court on Tuesday. The broker, from Louisiana, evaluates properties and creates sales materials to present to potential buyers. Part of his evaluation process involves taking aerial pictures of the property. Up through 2007, he would [...]