For Taxes, Is Business Attire Considered a Fashion Expense or Business Expense?
With all the tax laws it can be difficult to navigate the do’s and don’ts when it comes to business expenses. The Internal Revenue Service allows businesses and individuals to deduct specific types of business attire as a business expense. However, the line for this tax deduction can be a bit tricky. So, […]
Government Shutdown Affects IRS
Since the 35-day government shutdown has ended, the IRS has begun processing tax returns—but it has left them weeks behind on work and will take, according to the Washington Post, “at least a year” for the IRS to recover. This is largely due to the amount of backlogged taxpayer mail (reportedly millions of letters!) that they received […]
Tips on Ways to Save Money on Taxes When Purchasing a Business Vehicle
I get a lot of questions about cars and whether one should purchase one for their business as a tax write off. Cars are especially nice to have here in Southern California where you can purchase a nice drop-top and use it to show off to both your clients and friends. So, here are some […]
Income Reduction Under the Job and Cuts Tax Act
Hey, everybody, it’s Eric Pierre, your favorite CPA. With the 2018 year coming to an end, some of you may get a nice gift from Uncle Sam. Under the Tax, Job and Cuts Act, or what we know as the Trump tax law, there was a little provision known as QBI, or qualified business income […]
How to Get Refunds From Old Tax Returns
Hey everybody, it’s Eric Pierre, your favorite CPA. You know, whenever you go buy something, you know, let’s say I go to Best Buy, buy a new TV. You know, they have that price match guarantee, if you buy something within 30 days, and you find an ad and you notice that Fry’s sells it […]
How the Trump Tax Law Affects Property Tax Deductions
Hey everybody, it’s Your Favorite CPA, Eric Pierre. For those of you who aren’t aware, the new tax bill called the “Trump Tax Law” which passed at the end of last year made some significant changes on how we deduct a mortgage interest in our property taxes. So, let me walk you through real quickly […]
Lower Your Taxes Entertaining Clients
If you enjoy great weather like I do, then what could be better than writing off an adventure under the sun? To all my friends out there planning a vacation or staycation, did you know there’s easy way to make it tax-deductible to entertain a client, customer, or employee? Gimme a call and let me […]
How to Write Off a Vacation on Your Taxes
Relaxing at the beach is an ideal vacation for most. With summer around the corner, it’s time to start thinking about how you can save money by writing off your vacation. In order to write off some or most of your trip, schedule business appointments before you leave. The IRS expects you to meet with […]
How to Write Off a Weekend Trip on Your Taxes
If you’re planning on traveling or having fun, you can write off some or all of your expenses as long as they’re business related. Like right now, as you can see I’m kayaking. If I have a business meeting out here in the water, I can write off the entire kayak rental. And that’s not […]
Can Your Wedding Be a Tax Write Off?
Did you know that the average wedding costs $25,000? The good news, the IRS allows you to write off some of those wedding expenses. If you book your venue through a non-profit organization, such as a church and structure as donation, then you can write it off. The wedding dress can be donated to charity […]