Business Deduction

Are Travel Expenses Tax Deductible When Your Spouse Joins You on a Business Trip?

Picture it: you have an upcoming business trip to an exciting location, and your spouse gets that sparkle in their eye: “Can I come too?” Beyond the fun of combining business with a bit of leisure, an essential question arises: “Are my spouse’s travel expenses tax deductible?” While we all love the idea of trimming …

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Creating More Business Meal Tax Deductions After the TCJA

Here’s good news for business meals: the Tax Cuts and Jobs Act (TCJA) removed the “directly related and associated with” requirements from business meals. The net effect of this change is to subject business meals once again to the pre-1963 “ordinary and necessary” business expense rules. You are going to like these rules. Restaurants and …

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Take Advantage of the 199A Deduction for 2019

If you operate your business as a pass-through entity, such as a proprietorship, partnership, or S corporation, the profits of that business can generate the Section 199A tax deduction. No-Problem Businesses You qualify for the Section 199A deduction—period, regardless of pass-through business type—when you have pass-through qualified business income (QBI), and 2019 Form 1040 taxable …

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