From travel expenses to paying wages to family members, there’s no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you’re trying to write off go too far?
Tax Write-Off: Personal Expenses
This is a category business owners can easily get into trouble with if they’re not careful.
• Key Issue: You simply can’t deduct services of a purely personal nature that aren’t related to your business.
• How to Do It Right: Getting an opinion from a tax professional as to whether an expense is deductible for your business makes most sense. The cost of high-speed internet Read More
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